Philippines raises P420.45 billion via retail treasury bond issue

September 5, 2022 - 6:14 PM
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A man counts a wad of Philippine Peso bills he received from a relative working abroad at a money remittance center in Makati City, Metro Manila, Philippines September 19, 2018. (Reuters/Eloisa Lopez)

The Philippines has raised 420.45 billion pesos ($7.39 billion) from a retail treasury bond offering that ended on Sept. 2, National Treasurer Rosalia de Leon said on Monday.

The peso-denominated retail bonds due in 2028, which pay a coupon of 5.75%, were the first such issue under the administration of President Ferdinand Marcos Jr. It included a swap offer for holders of existing notes maturing this year and in 2023.

—Reporting by Enrico Dela Cruz; Editing by Martin Petty