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Manila Bulletin devider Business devider Philippines raises $3.3 billion in global bond offering

Philippines raises $3.3 billion in global bond offering

Published Jan 24, 2025 10:32 am

The Philippines has successfully raised $2.25 billion and €1 billion in a triple-tranche bond sale, demonstrating continued investor confidence in the country's economic prospects.

The sale, totaling $2.29 billion, included 10-year and 25-year bonds denominated in US dollars, and a seven-year bond denominated in euros.

This marked the Philippines' first euro-denominated sustainability bond and its return to the euro bond market since 2021.

The bond sale attracted strong interest from investors, allowing the Philippines to tighten the pricing from its initial guidance.

The 25-year and seven-year bonds were issued under the country's Sustainable Finance Framework, supporting environmentally and socially responsible projects. Proceeds from the sale will be used for general budget financing and to refinance assets in line with the framework.

National Treasurer Sharon P. Almanza noted the favorable market conditions and the government's goal to secure efficient financing ahead of potential uncertainties.

Finance Secretary Ralph G. Recto highlighted the success as a reflection of investor trust in the Marcos Jr. administration's leadership and policies.

He emphasized the government's commitment to investor dialogue and communication of its strategies for socioeconomic development.

The bonds are rated Baa2 by Moody's, BBB+ by Standard & Poor's, and BBB by Fitch.

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government borrowings Bureau of the Treasury
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