The Philippines milks investment grade status

The country swapped $1 billion of its existing bonds with notes from its new $1.5 billion issue, cutting funding costs and monetising on its investment grade ratings.

The Republic of Philippines raised a $1.5 billion 10-year senior unsecured note on Thursday, the country’s first dollar note in two years and the third sovereign to hit global debt markets this week.

¬ Haymarket Media Limited. All rights reserved.

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