RP raises $750M from global bond offer

MANILA, Philippines—The government on Tuesday raised $750 million or about P36.2 billion through the issuance of 10-year global bonds.

Finance officials said the commercial bond issue was “nearly six times oversubscribed,” showing healthy investor interest in the debt paper.

The bonds were priced at 99.065 percent to yield 6.625 percent, or 332.6 basis points higher than the benchmark US treasury bond rate.

Of the total amount raised, 60 percent came from Asia, a quarter from the United States and 15 percent from Europe.

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