Philippines completes 1.5 billion-dollar bond issue

MANILA (AFP) – The Philippines said Wednesday it had raised 1.5 billion dollars in a 10-year bond issue to stem a shortfall in revenue this year caused by slowing economic activity.

Asia’s first international sovereign bond for this year attracted around six billion dollars in demand from global investors, Dow Jones Newswires reported, quoting a Philippines finance department statement in Singapore where the float was launched.

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