PH euro bond sale successful – Treasury

THE Philippines has made a successful euro bond offering, the Treasury bureau announced on Friday, raising €750 million despite a slower economic growth.

“We have successfully priced €750 million (eight-year tenor) with a coupon of 0.875 percent and its yield at 70 bps (basis points) over benchmark,” National Treasurer Rosalia de Leon said in a message to reporters.

De Leon said there was good reception from high quality and real money investors especially from Europe despite the lower than expected Philippine economic growth of 5.6 percent in the first quarter and ongoing tensions between US and China.

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