New Issue: Philippines prices PHP 30.8 billion 3.9% notes due 2022 at par

By Christine Van Dusen

Atlanta, Nov. 8 - The Republic of the Philippines priced a PHP 30.8 billion issue of 3.9% 10-year notes (Ba1/BB+/BB+) at par, according to a filing with the Securities and Exchange Commission.

Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Standard Chartered and UBS were the bookrunners for the SEC-registered deal.

The notes are payable in dollars.

The proceeds will be used for general governmental purposes and to pay the purchase price and accrued interest for the bonds it purchases as part of a tender offer.

Issuer:	Republic of the Philippines
Amount:	PHP 30.8 billion
Maturity:	Nov. 26, 2022
Description:	Senior notes
Bookrunners:	Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, HSBC, JPMorgan, Morgan Stanley, Standard Chartered, UBS
Coupon:	3.9%
Price:	Par
Yield:	3.9%
Trade date:	Nov. 8
Settlement date:	Nov. 26
Ratings:	Moody's: Ba1
	Standard & Poor's: BB+
	Fitch: BB+
Distribution:	Securities and Exchange Commission registered

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