PHL taps foreign debt market for funds via dollar bond issue - BusinessMirror

THE Philippines on Wednesday returned anew to the international market as it seeks to raise at least $500 million in 5-year, 10.5-year issues and 25-year sustainability bond, marking the second dollar-denominated offering of the country this year and the first for the administration of Ferdinand R. Marcos Jr.

Moody’s pointed out that the Baa2 issuer rating for the Philippines takes into consideration the country’s “high potential” growth and a “moderate” government burden as compared to peers. “The Philippines also has a heightened susceptibility to environmental risks given the high incidence of climate-related shocks,” it added.

“75:25 that’s the preferred mix; but sometimes one has to be opportunistic,” Diokno told reporters last Wednesday. The proceeds from the 5-year and 10.5-year bonds would be used for “general budget financing.” Ditto for the amount raised under the 25-year “green” bond aside from bankrolling or refinancing “assets in line with the country’s sustainable finance framework.”

Source: News Formal (newsformal.com)

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