Sunday, October 1, 2023
manilastandard.net
ADVERTISEMENT
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Special Pages
    • Pets
    • Tech
      • Gadgets
      • Computers
      • Business
      • Tech Plus
    • On the Road
      • Sedan
      • SUV
      • Truck
      • Bike
      • Accessories
      • Motoring Plus
      • Commuter’s Corner
    • Home & Design
      • Residential
      • Commercial
      • Construction
      • Interior
    • Spotlight
    • Cravings
    • Environment & Sustainability
    • Agriculture
    • Pop.Life
      • Newsmakers
      • Hangouts
      • A-Pop
      • Post Its
      • Performances
      • Malls & Bazaars
      • Hobbies & Collections
    • Events
      • Seminars
      • Exhibits
      • Community
    • Biyahero
      • Travel Features
      • Travel Reels
      • Travel Logs
    • Gallery
      • Photos
      • Videos
  • Advertise with Us
No Result
View All Result
manilastandard.net
No Result
View All Result
Home Business Money

PH sells $2.35b in global bonds on strong demand

Manila StandardbyManila Standard
April 28, 2020, 8:40 pm
in Money
Reading Time: 3 mins read
A A
Share on FacebookShare on TwitterShare on Email

The Philippine government on Tuesday raised $2.35 billion from the sale of 10-year and 25-year global bonds amid strong demand.

The Finance Department said in a statement the new 10-year global bonds were priced at US Treasury spreads of T+180 basis points, after an initial pricing guidance of T+220 bps area, while the 25-year tranche was priced at 2.950 percent, which was 42.5 bps tighter than the initial pricing guidance of 3.375 percent area.

National Treasurer Rosalia de Leon said the transaction registered the country’s lowest ever coupon for a 10- and 25-year benchmark issuance amid an environment gripped with pandemic fear.

“This makes the Philippines, at least for the time being, a diamond in the sovereign issuance space for we were able to convert immense pressure into an opportunity to dazzle in brilliant shine,” de Leon said.

The global bonds were rated investment grade or “Baa2” by Moody’s Investors Service, “BBB+” by Standard & Poor’s and “BBB” by Fitch Ratings. The transaction is expected to settle on May 5, 2020.

Finance Secretary Carlos Dominguez III said the strong demand for the bond issuance demonstrated the resiliency of investor interest in the Philippine economy despite the global economic fallout from the COVID-19 pandemic.

“Such support from the investor community is a result of the continued strong macroeconomic fundamentals of the country brought about by the reform agenda of the Duterte administration,” Dominguez said.

“The success of this bond float despite the COVID-induced volatility is also reflective of the global recognition of, and support for, the Duterte administration’s four-pillar strategy to mitigate the impact of the global health crisis,” he said.

He said the four-pillar strategy included providing immediate financial support to millions of the most vulnerable families as well as employees of small businesses; mobilizing resources to support the frontline health workers and increase testing capacity; providing liquidity and support to the economy; and putting in place an economic recovery plan that is responsive to the needs of consumers and businesses to create jobs and sustain growth.

Finance Undersecretary Mark Dennis Joven said the government was expecting another successful US dollar-denominated bond issuance despite the challenges the global economy was facing.

“With the sovereign’s credibility in the international market, coupled with its solid economic fundamentals and long-term growth prospects, this successful issuance has only been a matter of timing,” Joven said.

Proceeds of the issuance will be for the government’s general purposes, including budgetary support.

Capitalizing on a short favorable market window amid broader volatility arising from concerns over the coronavirus disease 2019 crisis, the government announced the issuance on April 27.

The opportunistic transaction was launched following a constructive week in Asia-Pacific credit markets and illustrates the Republic’s ability to navigate a challenging global environment and respond efficiently to capture conducive market conditions.

It followed a EUR 1.2-billion double-tranche global bond offering by the country in January this year and $1.5 billion and EUR750 million global bond offerings in 2019.

Citigroup, Credit Suisse, Goldman Sachs (Asia) L.L.C, Morgan Stanley, Standard Chartered Bank and UBS acted as joint bookrunners for the transaction.

Global debt watchers S&P, Moody’s and Fitch assigned investment grade ratings to the bond issuance.

S&P said the notes “represent direct, general, unconditional, unsecured, and unsubordinated obligations of the sovereign, and rank equally with the sovereign’s other unsecured and unsubordinated debt obligations.”

Tags: coronavirus disease 2019COVID-19Department of FinanceFinance Secretary Carlos Dominguez IIIglobal bondsPhilippine economy
ADVERTISEMENT
Manila Standard

Manila Standard

Related Posts

BSP expects faster inflation in September

byJulito G. Rada
September 29, 2023, 9:40 pm
0
8
BSP readies big interest rate hike this month

The Bangko Sentral ng Pilipinas said Friday inflation in September likely picked up to as high as 6.1 percent from...

Read more

Hot money posted net inflows of $311m in eight months—BSP

byJulito G. Rada
September 29, 2023, 9:30 pm
0
8
Makati Shangri-La reopens, starts accepting bookings

Foreign portfolio investments or hot money posted net inflows of $153 million in August, smaller compared to $962 million in...

Read more

Banks’ FCDU loans reached $15b as of June

byManila Standard Business
September 29, 2023, 9:10 pm
0
8
Sara orders ‘no mercy policy’ vs. criminals, terrorists

Outstanding loans granted by foreign currency deposit units (FCDU) of banks reached $15.4 billion in the second quarter, down $66...

Read more

DBP supports gov’t logistics master plan

byJulito G. Rada
September 28, 2023, 6:45 pm
0
8
DBM identifies projects eligible for over P9 billion LGU support fund

State-run Development Bank of the Philippines said Thursday it will extend technical and financial assistance to strategic initiatives to ensure...

Read more

Thrift banking industry remains strong — BSP

byJulito G. Rada
September 28, 2023, 6:30 pm
0
8
Policy rate kept at 2% in MB’s last meeting this year

Bangko Sentral ng Pilipinas Deputy Governor Chuchi Fonacier said the thrift banking industry remains strong and resilient despite the uncertainties...

Read more

Finastra, Tonik renew digital banking tie-up in the Philippines

byManila Standard Business
September 28, 2023, 11:25 am
0
8
Neobank Tonik says deposits surpass P5b

Finastra renewed its partnership to power Tonik’s end-to-end core banking capabilities with Finastra Essence in the Philippines. Under the new...

Read more

Print Edition

View More

Recent Posts

  • Experience Super-Sized Fun at SM’s 65th Anniversary this October
  • Dingdong Dantes finds his groove hosting ‘Family Feud’
  • How funds raised in annual ball helped ABS-CBN Foundation continue its mission
  • A charming star’s path beyond boy band
  • Short video content creation made easy
  • Hong Kong’s iconic hotel reopens
  • A Palawan resort worth logging off for
  • Singapore puts fresh spin on tourism brand

Advertisement

Latest News

Hong Kong’s iconic hotel reopens

byBob Zozobrado
October 1, 2023, 6:30 pm
0
8
Hospitality alliance backs Central Luzon sustainable tourism summit

After an extensive three-year renovation to its lobby, 394 guest rooms and suites, Continental Club, and dining venues, Hong Kong’s...

Read more

A Palawan resort worth logging off for

byManila Standard
October 1, 2023, 6:20 pm
0
8
Hospitality alliance backs Central Luzon sustainable tourism summit

Marriott International has raised its profile in the Philippine tourism market anew with the opening of its first Four Points...

Read more

Singapore puts fresh spin on tourism brand

byManila Standard
October 1, 2023, 6:10 pm
0
8
Singapore puts fresh spin on tourism brand

The Singapore Tourism Board (STB) has unveiled “Made in Singapore,” its latest global campaign to inspire travelers to choose Singapore...

Read more

Hospitality alliance backs Central Luzon sustainable tourism summit

byManila Standard
October 1, 2023, 6:00 pm
0
8
Hospitality alliance backs Central Luzon sustainable tourism summit

The Hospitality Alliance of Freeport Zone shows support for the recently concluded and successful first Central Luzon Sustainable Tourism Summit...

Read more

Balanced offense steers Archers past Tamaraws

byManila Standard Sports
October 1, 2023, 5:15 pm
0
8
Balanced offense steers Archers past Tamaraws

La Salle's Evan Nelle directing plays By Peter Atencio Evan Nelle led five teammates in coming up with double-digit outputs...

Read more

Advertisement

ADVERTISEMENT
Facebook Twitter Instagram Youtube

ABOUT US

Manila Standard

Manila Standard website (manilastandard.net), launched in August 2002, extends the newspaper’s reach beyond its traditional readers and makes its brand of Philippine news and opinion available to a much wider and geographically diverse readership here and overseas.

Digital Edition

In tone and content, the online edition mirrors the editorial thrust of the newspaper. While hewing to the traditional precepts of fairness and objectivity, MS believes the news of the day need not be staid, overly long or dry. Stories are succinct, readable and written in a lively style that has become a hallmark of the newspaper.

Download – Today’s Paper

Search

No Result
View All Result

6th Floor Universal Re Bldg., 106 Paseo De Roxas cor. Perea Street, Legaspi Village, 1226 Makati City Philippines

Trunklines: 832-5554, 832-5556, 832-5558

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

No Result
View All Result
  • About
  • News
    • Top Stories
    • National
    • World News
    • Pinoy Abroad
    • Features
  • Opinion
    • Editorial
    • Columns
    • Soundbytes
  • LGUs
    • NCR
    • Luzon
    • Visayas
    • Mindanao
  • Business
    • Corporate
    • Economy & Trade
    • Stocks
    • Money
    • Agri & Mining
    • Power & Tech
    • IT & Telecom
  • Sports
    • Basketball
    • Volleyball
    • Fightsports
    • Active
    • Sports Plus
    • One Championship
    • Columns
  • Entertainment
    • TV & Movies
    • Celebrity Profiles
    • Music & Concerts
    • Digital Media
    • Columns
  • Lifestyle
    • Food
    • Culture & Media
    • Fashion
    • Health and Home
    • Leisure
    • Shopping
    • Columns
    • Young Life
  • Pets
  • Tech
    • Gadgets
    • Computers
    • Business
    • Tech Plus
  • ON THE ROAD
    • Sedan
    • SUV
    • Truck
    • Bike
    • Accessories
    • Motoring Plus
    • Commuter’s Corner
  • Home & Design
    • Residential
    • Commercial
    • Construction
    • Interior
  • Spotlight
  • Cravings
  • Environment & Sustainability
  • Agriculture
  • Pop.Life
    • Newsmakers
    • Hangouts
    • A-Pop
    • Post Its
    • Performances
    • Malls & Bazaars
    • Hobbies & Collections
  • Events
    • Seminars
    • Exhibits
    • Community
  • Biyahero
    • Travel Features
    • Travel Reels
    • Travel Logs
  • Gallery
    • Photos
    • Videos
  • Advertise with Us

© 2021 Manila Standard - Designed and Developed by Neitiviti Studios.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Install Manila Standard Web App

Install App