Philippines launches three-tranche dollar bond issue

October 5, 2022 - 4:16 PM
A man counts a wad of Philippine Peso bills he received from a relative working abroad at a money remittance center in Makati City, Metro Manila, Philippines September 19, 2018. (Reuters/Eloisa Lopez)

The Philippine government has launched a three-tranche, benchmark-sized bond issue denominated in U.S. dollars, National Treasurer Rosalia de Leon said on Wednesday.

The bond offer consists of five-year and 10.5-year issues and also includes a a25-year green or sustainability bond.

BofA Securities, Goldman Sachs, HSBC (B&D), J.P. Morgan, Morgan Stanley, SMBC Nikko, Standard Chartered Bank and UBS are the bookrunners, a term sheet showed.

Proceeds of the 5-year and 10.5-year bond sales will be used for budget financing.

—Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor