Terra Daily via Agence France-Presse: The Philippine government announced Saturday that it successfully raised one billion dollars in 25-year global bonds amid a growing need for rehabilitation funds after two destructive storms. This marks the third international global bond issue for the Philippines this year and the first 25-year bond offer since January 2007, the finance department said in a statement."We are very pleased to have been able to extend the republic's maturity profile while at the same time achieving the lowest yield for a new 25-year benchmark US dollar global offering by the Philippines," finance secretary Margarito Teves was quoted as saying.
"Positive investor reception for this transaction allowed us to resume our long-term borrowing strategy to achieve our funding objective in support of our fiscal programme," national treasurer Roberto Tan also said.
Deutsche Bank Securities Inc., HSBC and UBS AG acted as joint lead managers and joint bookrunners for the transaction….
1 comment:
Good move on the part of the government. For all the complaints we have about government, the BSP and the DoF really know how to raise money.
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