By Christine Van Dusen
Atlanta, Sept. 10 - The Republic of the Philippines priced PHP 44.11 billion 4.95% global bonds due Jan. 15, 2021 (Ba3/BB-/BB) at 99.607 to yield 5%, according to a filing with the Securities and Exchange Commission.
The bonds are denominated in pesos but principal and interest will be paid in dollars.
Citigroup and Deutsche Bank were the global coordinators. The two banks - plus Goldman Sachs, HSBC, Credit Suisse and JPMorgan - were the bookrunners for the SEC-registered deal.
The non-callable notes priced at the rich end of talk, which was for a yield of 5% to 5¼%.
Proceeds will be used for general purposes.
| Issuer: | Republic of the Philippines
|
| Amount: | PHP 44.109 billion
|
| Proceeds: | $995.6 million equivalent
|
| Maturity: | Jan. 15, 2021
|
| Description: | Global bonds
|
| Bookrunners: | Citigroup, Deutsche Bank, Goldman Sachs, HSBC, Credit Suisse, JPMorgan
|
| Coupon: | 4.95%
|
| Price: | 99.607
|
| Yield: | 5%
|
| Call features: | Non-callable
|
| Trade date: | Sept. 9
|
| Settlement date: | Sept. 17
|
| Ratings: | Moody's: Ba3
|
| Standard & Poor's: BB-
|
| Fitch: BB
|
| Distribution: | Securities and Exchange Commission registered
|
| Price talk: | 5% to 5¼%
|
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