MANILA — The Philippines has launched its second U.S. dollar benchmark bond sale this year, its national treasurer said on Wednesday.
It was a triple tranche bond offering, said National Treasurer Sharon Almanza, without providing additional details, including the size of the offer.
The Philippines is marketing 5.5-year and 10.5-year bonds, and a 25-year sustainability tranche, capital markets news service IFR reported on Wednesday.
Moody’s Ratings assigned Baa2 rating to the U.S. dollar denominated global bond offering, proceeds of which are intended for general purposes including budgetary support.
The Philippines is one of Asia’s most-active sovereign bond issuers, and regularly taps domestic and foreign debt markets to help finance its budget deficit.
In May, the Southeast Asian country raised $2 billion through 10-year bonds and 25-year sustainability tranche bonds.
—Reporting by Neil Jerome Morales; Editing by Martin Petty
