"Interest rates are still low and that is a conducive environment for issuing notes," Astro C. del Castillo, managing director of brokerage firm First Grade Holdings, Inc., said in a telephone interview yesterday.
"There continues to be an appetite for it," Mr. del Castillo
The overnight borrowing rate is currently pegged at just 4.25% even after the Bangko Sentral
ng Pilipinas monetary board hiked interest rates by 25 basis points for the first time since mid-2009.
The record low had been 4%.
Mr. del Castillo
said capital raising is still attractive given market liquidity.