THE government returned to the Japanese market on Tuesday by raising 55 billion yen ($500 million or about P24.23 billion) worth of “samurai” bonds. Samurai bonds are yen-denominated securities issued by non-Japanese entities in Tokyo. The three-year bond was priced at 21 basis points above the benchmark, which was the tightest spread the government has achieved since its return to the market in 2018. The Treasury said the initial target size of 30 billion yen was upsized to 55 billion yen “following strong investor demand, allowing the deal to capture new investor base for the Philippines.” It will mature on April 12, 2024. The issuance secured investment grade ratings from international debt watchers Moody’s Investors Service, S&P Global Ratings and Japan Credit Rating Agency.

Source: Manila Times March 30, 2021 16:30 UTC