By Aaron Hochman-Zimmerman
New York, Jan. 7 - The Republic of the Philippines announced the sale of $1.5 billion 10-year global bonds at 99.158 with a coupon of 8 3/8% to yield 8½% (B1/BB-/BB), according to a market source.
The deal matched the talk of 8½%.
Credit Suisse, Deutsche Bank and HSBC were bookrunners for the off-the-shelf deal.
Proceeds will be used for general budgetary purposes.
Issuer: Philippines
Issue: Global bonds
| Amount: | $1.5 billion
|
| Maturity: | June 17, 2019
|
| Bookrunners: | Credit Suisse, Deutsche Bank, HSBC
|
| Coupon: | 8 3/8%
|
| Price: | 99.158 |
|
| Yield: | 8½%
|
| Call: | Non-callable
|
| Pricing date: | Jan. 7
|
| Settlement date: | Jan. 14
|
| Distribution: | Off shelf
|
| Ratings: | Moody's: B1
|
| Standard & Poor's: BB-
|
| Fitch: BB
|
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