The Marcos administration successfully priced its $3-billion bond triple-trance dollar issuance, for which demand was so strong that the order book peaked at $28.2 billion, Finance Secretary Benjamin Diokno said in a statement. | RonWDomingoINQ /PDI
The Philippines is borrowing $500 million through 5.5-year bonds at a cost of 4.743 percent; $1.25 billion through 10-year bonds at 5.001 percent; and $1.25 billion through 25-year bonds at 5.5 percent.Diokno said that compared to the guide prices, they were able to secure final prices that were lower by 50 bps [0.5 percentage point] for the 5.5-year and 10-year bonds and 45 bps [0.
Proceeds from the new issue are mainly to support the national government’s expenses, which are projected to surpass revenues by P1.47 trillion in 2023.
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