New Issue: Philippines sells upsized $1.5 billion 25-year bonds at 9.70%

By Reshmi Basu

New York, Jan. 26 - The Republic of Philippines priced an upsized $1.5 billion of bonds at 98.131 to yield 9.70%, according to a market source.

The deal, increased from $1 billion, came in tighter than price guidance. Initial guidance had been set at 9 7/8%.

UBS, Deutsche Bank and Citigroup ran the global bonds offering.

Issuer:	Republic of Philippines
Amount:	$1.5 billion
Issue:	Global
Maturity:	Feb. 2, 2030
Coupon:	9½%
Issue price:	98.131
Yield:	9.70%
Pricing date:	Jan. 26
Settlement date:	Feb. 2
Leads:	UBS, Deutsche Bank, Citigroup
Ratings:	Moody's: Ba2
	Standard & Poor's: BB-
	Fitch: BB
Guidance:	9 7/8%
Distribution:	SEC-registered

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