MANILA — The Philippine government launched on Wednesday an onshore offering of U.S. dollar-denominated retail bonds maturing in 2029, initially raising $611.2 million at a coupon rate of 5.750% at a price-setting auction.
The auction drew total tenders of $636.2 million from government securities dealers, prompting the government to upsize its offer to $636.0 million from $200 million initially. Investors have until Oct. 6 to avail of the bonds, with the guidelines posted on the Bureau of the Treasury’s website.
— Reporting by Enrico Dela Cruz; Editing by Martin Petty
