Philippines guides 10-year bonds at Treasuries plus 130 bps area

By Paul A. Harris

Portland, Ore., Jan. 7 – Republic of Philippines gave initial guidance on a benchmark dollar-denominated offering of 10-year fixed-rate senior notes (expected ratings Baa2/BBB/BBB) in the Treasuries plus 130 basis points area, according to a market source.

Bank of China, JPMorgan and Standard Chartered Bank are the joint global coordinators and joint bookrunners for the public offering. Citigroup, Credit Suisse, Goldman Sachs (Asia) LLC and UBS are also joint bookrunners.

Proceeds will be used for general corporate purposes of the republic, including budgetary support.

The settlement date is Jan. 14.

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