Philippines raises $611.2 million via retail bond at 5.750% coupon

September 27, 2023 - 6:06 PM
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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 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