Philippine raises $2.75 billion from global bondsProceeds for budget funding, debt refinancingMANILA, Philippines — The Philippines raised a total of $2.75 billion from its return to the global bond market after pricing a triple-tranche dollar offering that drew strong investor demand and locked in funding across the medium to long end of the curve. Based on the final term sheets released yesterday, the Bureau of the Treasury priced $500 million of 5.5-year global bonds due 2031, $1.5 billion of 10-year bonds due 2036 and $750 million of 25-year bonds due 2051. The global bonds are rated investment grade, with Moody’s assigning a Baa2 rating, S&P Global Ratings giving a BBB+ rating and Fitch Ratings rating the bonds BBB. This includes a dual-currency $2.25 billion and €1 billion deal in January 2025, a $2.5 billion triple-tranche offering in August 2024 and a $2 billion dual-tranche issuance in May 2024. Rizal Commercial Banking Corp. chief economist Michael Ricafort said the issuance attracted strong investor interest, with total bids reaching about $5.95 billion, more than double the $2.75 billion actually awarded.

Source: Philippine Star January 22, 2026 00:04 UTC