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Philippines' Psalm talks benchmark-sized 10-year bonds in 7½% area
By Aaron Hochman-Zimmerman
New York, May 18 - Power Sector Assets and Liabilities Management Corp. (Psalm) announced talk in the 7½% area for its dollar-denominated sale of benchmark-sized 10-year bonds (B1/BB-/), according to a market source.
The bonds will price on Tuesday on behalf of the public utility Napocor.
Deutsche Bank, HSBC and Morgan Stanley are bookrunners for the Rule 144A and Regulation S deal.
The roadshow started in Manila on May 14, moved to London on May 15 and New York on May 18 and will wrap up in Boston on May 19.
Power Sector Assets and Liabilities Management Corp. is a Manila-based power company.
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