A notice of issuance stated that the Philippines plans to raise at least $500 million from foreign sources by offering global bonds with tenors of 5.5 and 10.5 years as well as a 25-year sustainability bond.
This marks the third global bond issuance of the Marcos administration since it assumed office. This is also the second for the year or since raising $2 billion last May.
Proceeds of both the 5.5 and 10.5-year bonds will be used for general budget financing while the green bond is set to refinance assets in line with the country's sustainable finance framework.
Global bond issuances are a way to diversify the country's funding sources and constantly provide liquidity of Philippine global bonds in the international market.
This story is from the August 29, 2024 edition of The Philippine Star.
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This story is from the August 29, 2024 edition of The Philippine Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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