MANILA, Philippines — The Duterte administration braved financial market volatility and raised $2.35 billion in funding from fresh issuance of US dollar-denominated global bonds, proceeds of which will be used to respond to the coronavirus outbreak. In a statement on Tuesday, National Treasurer Rosalia de Leon said the government raised $1.35 billion from floating 25-year debt papers, while another $1 billion was collected from 10-year bonds. Apart from the global bonds, the government has also been floating Treasury bonds and bills every week to source credit from local investors. For this month alone, data showed a total of P103 billion was raised from Treasury bills, and another P60 billion from Treasury bonds. In total, based on Philstar.com’s independent fund monitoring, sources of a total of P884.51 billion in cash had been determined, including proceeds from this global bond issuance, as of April 28.

Source: Philippine Star April 28, 2020 07:18 UTC