By Eileen Mencias
The Philippines raised $2.5 billion from the international bond market, the Bureau of the Treasury said.
The issuance comprised $550 million in 5.5-year bonds, $1.65 billion in 10-year notes, and a $300 million tap of its 2051 global bonds.
Proceeds will be used for general budget financing.
The 5.5-year bonds were priced at a reoffer yield of 4.699%, while the 10-year notes carried a yield of 5.355%. The tap of the 2051 bonds was priced at 5.850%.
The government’s latest dollar bond sale follows a $2.75 billion triple-tranche issuance in January.
Finance Secretary Frederick Go said the transaction reflected continued investor confidence in Philippine sovereign credit. National Treasurer Sharon Almanza said the timing allowed the government to secure funding amid favorable market conditions.
The transaction was arranged by BNP Paribas, Citigroup, HSBC, J.P. Morgan, MUFG and Standard Chartered Bank as joint lead managers and bookrunners.—Bilyonaryo.com
