The Philippines has initiated marketing for a two-part dollar bond offering, marking its first entry into the international debt market in 2023. The country plans to sell a 10-year bond and a 25-year sustainability note at an initial price of 120 basis points above comparable US Treasuries and a yield of around 6.1 percent, respectively.
THE Philippines has begun marketing a two-part dollar bond offering that will mark its first foray to the international debt market this year, Bloomberg reported on Thursday.The country is aiming to sell a 10-year bond and 25-year sustainability note at an initial price of 120 basis points above comparable US Treasuries and a yield of around 6.1 percent, respectively.
Finance Secretary Ralph Recto earlier told Bloomberg that the government was looking to prioritize dollar-denominated bonds as it sought to borrow 'something like $3.5 billion this year...''There will be euros I suppose, but mostly dollar,' he added.Recto confirmed ongoing discussions with eight banks to assist with the planned foreign bond issuance.He reiterated that the government's policy remained that of limiting foreign borrowings to reduce exposure to currency risks.
Philippines Dollar Bonds International Debt Market Sustainability Note Borrowing
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