MANILA: The Philippines has successfully re-entered the international capital markets with a $2.5 billion triple-tranche global bond offering, consisting of 5.5-year, 10.5-year, and 25-year bonds.
The 25-year tranche marks the country’s sixth environmental, social, and governance (ESG) bond offering in major global markets, underscoring the government’s commitment to sustainable finance.
The latest issuance achieved among the best and tightest pricing in all its tranches this year, compared to the Philippines’ regional peers. This means that the government was able to raise funds at very affordable costs, which will support various programs and projects benefiting the Filipino people.
According to the Department of Finance, the proceeds of the 5.5-year and 10.5-year bond offerings will be used for general budget financing, while funds from the 25-year bond will support both general budget financing and projects aligned with the country’s Sustainable Finance Framework.
The successful bond offering is considered as a manifestation to the country’s strong economic fundamentals and its ability to attract foreign investors. The Department of Finance said the issuance was well-received by investors, with strong demand from major global markets.
For more information, visit the Department of Finance website at www.dof.gov.ph.