Gov’t raises $1B in global bonds

[darkwing]

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good news for us, i would have bought some lols it was in high demand, 13 times the offer

Business - Gov’t raises $1B in global bonds - INQUIRER.net

MANILA, Philippines – (UPDATE) The government raised $1 billion (P44.1 billion) in the maiden issue of 10-year, peso-denominated global bonds Friday, the Finance Department said Friday.

National Treasurer Roberto B. Tan said the new issue was priced at 99.607 percent with a coupon of 4.95 percent and a yield of 5 percent.

“The peso global bond is expected to enhance the government’s debt investor profile while paving the way for greater participation by offshore investors in the Philippine capital markets,” Tan said.

The bonds, which had a yield of five percent, attracted bids over 13 times the offer, the department said in a statement, adding that this showed confidence in the economic agenda of newly-elected President Benigno Aquino III.

"This is a landslide vote of confidence by the global financial markets in [Aquino's] leadership... as well as in the macroeconomic fundamentals of the country," Finance Secretary Cesar Purisima was quoted as saying in a report by Agence France-Presse.

The bond offering also showed that the Philippine peso was now being accepted as an overseas bond, the department said.

"Now, we can lessen the issuance of dollar bonds in the future."

Orders for the securities came from the United States, Europe and Asia, the department said, although it did not give a breakdown.

Aquino took office in June after winning May 10 elections by a landslide after running on an anti-corruption platform.

He has vowed to spur economic growth by building infrastructure, fighting tax evasion and making it easier to do business in this country.

[M@rv|n]

hehehe am in!
good news indeed.

[hobie]

sounds like its good for me

[peewee_toot]

wow! ang mga buwaya ani...

[Tirong-say]

A good indication that we and our economy are trusted,
next is how to uphold this and place what we could gather in better use.

[Romeojin]

yehey utang na pud

[estor_boot]

as long as this funds will go to its right purpose, ok ra. kinsa man nga country ang way utang ba?
there is indeed a high trust for this Aquino government. it's just that his detractors are so loud even if they are only few.

[Romeojin]

^^ wa pay 100 days utang2x na lol, naa pa gani tong pila ka million dollar the other day para ipanghatag lang ng DSWD.

only few? lurk mode man gani ang pro noys here. di bale kataw.an lang nato ang crisis in 2-3 years

ayaw lagi emo kaau. estoryabotbot

[estor_boot]

duna diay nay timetable when ta mangutang? unsaon i hold sa nato ang basic services kay unya na ta mangutang after 100 days?
lurk mode ra bitaw mi.. we have a life.
mosunod gyud diay mi ninyo nga mag multiple post in one page or thread with the same one liner nga walay substance? OT na ni.

what is more important is that investors trust PNoy's administration!

now you can go back talking about the hostage crisis, i doubt people will remember it 2-3 years from now.

[Romeojin]

so wa diay transition period, evaluation period, honeymoon period. pa acting2x pa sya ka robredo. kung naay problema, iblame it on the previous admin kay young pa ang Noy admin puro pa gani palpak ato makita, naa na bay direction. moreklamo ka sa utang ng previous admin sunod kani ok lol.

we got life pa ka dinha pirmi man gani ta ka makit.an ug si vip browsing the forum way post2x di madepensahan si noy ibash nalang ang critics, oi humana election.

of course bond market is the best credit market. who doesnt like a secured debt.

pinoy will always remember a president hated by a foreign country, it never happened before lol. who knows every year naay anniversary aning hostage crisis.