PH raises P19-B from second issuance of panda bonds

ABS-CBN News

Posted at May 15 2019 10:54 PM

MANILA - The Bureau of Treasury said Wednesday it successfully held its second issuance of panda bonds or debt papers denominated in the Chinese currency. 

The BTr said it sold 2.5 billion renminbi (P19 billion) worth of bonds with a tenor of three years. 

The bonds were priced at 3.58 percent, which allowed the Philippines to achieve a tight spread of 32 basis points above the benchmark, the BTr said. 

National Treasurer Rosalia de Leon said the warm reception for the Philippines' panda bonds issuance reflects positive market sentiment on Philippine credit. 

Earlier this month, S&P Global raised its rating on Philippine by one notch to BBB+, or one notch below the "A" rating.

Last week, the Philippines sold 750 million euros (P44 billion) in its first issue of euro-denominated bonds in 10 years that was 6 times oversubscribed.