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Philippines talks benchmark 25-year notes at 6½% area; pricing Friday
By Christine Van Dusen
Atlanta, Oct. 15 - The Republic of the Philippines set price talk for a benchmark dollar-denominated offering of global bonds due Oct. 23, 2034 at 6½%, a trader said.
The yield could come as low as 6 3/8 %, the trader added.
The notes are expected to price Friday morning, New York time, according to a market source.
Deutsche Bank, HSBC and UBS Investment Bank are leading the SEC-registered deal.
Moody's Investors Service rated the bond at Ba3 while Fitch assigned a BB. Standard and Poor's has the Philippines at an issuer rating of BB-.
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