The Philippines raised $2.5 billion from the international bond market to fund its general budget financing requirements, the Bureau of the Treasury said on Thursday.
The sovereign debt issuance comprised $550 million in 5.5-year bonds, $1.65 billion in 10-year notes, and a $300 million tap of its existing 2051 global bonds.
The 5.5-year tranche was 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-denominated bond sale follows a $2.75 billion triple-tranche issuance completed in January.
Finance Secretary Frederick Go said the transaction reflected continued investor confidence in Philippine sovereign credit, while National Treasurer Sharon Almanza noted that 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 acting as joint lead managers and bookrunners.
