MANILA, Philippines — The Philippines raised $1.5 billion of debt from the sale of 10-year global bonds, the Bureau of the Treasury reported Tuesday, marking the first such issue from an emerging market this year. National Treasurer Rosalia de Leon said the offering, which fetched a 3.75 percent coupon rate, “demonstrates strong conviction from the global investor community” on the Philippines’ economic fundamentals. Related Stories Governement launches dollar bond issuance“We have garnered strong support from the global fixed income investor community despite recently heightened volatilities in the global markets,” De Leon said in a statement. Investors from Asia, the US and Europe — most of whom were asset managers — swarmed the Philippines’ US dollar-denominated bond sale, the BTr said. The government plans to borrow P297.2 billion ($5.504 billion) from external creditors this year.

Source: Philippine Star January 08, 2019 09:00 UTC