Philippines

The Republic of the Philippines mandates three banks for a $500 million offering as the country's first public subordinated debt issue is priced.

After requesting that banks submit ideas for a new dollar bond, the Department of Treasury mandated three houses yesterday (Wednesday) for a $500 million 10-year deal. HSBC, Salomon Smith Barney and UBS Warburg won the books for an offering, which may launch as soon as today.

In the meantime, Metrobank successfully completed the Republic's first public subordinated debt transaction yesterday under the lead of UBS Warburg.

Nickel Asia becomes second issuer to pull IPO in two days - The Philippines-based nickel miner fails to attract enough demand for its Toronto listing amid sliding commodity prices. [Finance Asia]

Investors declare Asia the next private equity theatre - Colliers Capital poll places India at the forefront of private equity hit-lists. [Finance Asia]

Asia is ranked as the main source of attraction to private equity investors according to a new Colliers Capital global private equity barometer. Leading the pack is India with nearly four out of five investors attesting to its allure.

Greater China throws in a typically solid performance, in favour with approximately three quarters of investors. South East Asia has also tiptoed back into the spotlight after several years offstage, with 60% of investors poised with cheque books ready......