Coastal Road pitches $175m secured bond

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Coastal Road pitches $175m secured bond

Issue: 1165 - 29 July 2010

Keywords: Coastal Road, Manila Cavite Toll Road Finance Company, Luis Virata

Philippine toll road operator Coastal Road Corp started investor meetings on Thursday, pitching a $175m bond that will be backed by cashflows generated by one of its toll roads. The issue is a rare offering from a Philippine credit in the international bond market — and rarer still because of its structural tweaks. ..

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