The sovereignÆs bankers û Citigroup, Credit Suisse and Deutsche Bank û hit the road with pricing guidance at 6.55% - 6.65% for the SEC-registered deal and eventually printed a coupon of 6.375%, priced at 97.862 to yield 6.55%. That is equivalent to 180.3bp over US treasuries.
This is the lowest coupon ever for a US dollar benchmark from the Philippines. With the 2031 bonds trading at 113.75% to yield 6.601% and 114 6.58% the leads succeeded...
¬ Haymarket Media Limited. All rights reserved.