By Christine Van Dusen
Atlanta, Oct. 11 - The Republic of the Philippines priced a $50 million tap of its 6 3/8% notes due Oct. 23, 2034 at 117.5 to yield 5.077%, or Treasuries plus 203.6 basis points, according to a filing with the Securities and Exchange Commission.
Citigroup Global Markets Inc., Goldman Sachs (Asia) LLC, Hongkong Shanghai Banking Corp. Ltd., J.P. Morgan Securities LLC, Standard Chartered Bank and UBS AG, Hong Kong branch were the bookrunners for the SEC-registered deal.
The notes will be consolidated with the existing $1 billion 6 3/8% notes due 2034 issued Oct. 23, 2009, $850 million issued Jan. 13, 2010 and $946.8 million issued Oct. 6, 2010.
Proceeds will be used to pay for bond purchases and for general governmental purposes, including budgetary support.
| Issuer: | Republic of Philippines
|
| Amount: | $50 million
|
| Maturity: | Oct. 23, 2034
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| Description: | Notes
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| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs (Asia) LLC, Hongkong Shanghai Banking Corp. Ltd., J.P. Morgan Securities LLC, Standard Chartered Bank and UBS AG, Hong Kong branch
|
| Coupon: | 6 3/8%
|
| Price: | 117.5
|
| Yield: | 5.077%
|
| Spread: | Treasuries plus 203.6 bps
|
| Trade date: | Oct. 11
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| Settlement date: | Oct. 24
|
| Distribution: | Securities and Exchange Commission registered
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