MANILA, April 28 — The Philippines said today it raised US$2.35 billion (RM10.2 billion) through the sale of 10-year and 25-year US dollar bonds, to help finance this year’s budget and measures to mitigate the economic impact of the coronavirus outbreak.

The 10-year and 25-year bonds were sold at 2.457 per cent and 2.95 per cent, respectively. They were the lowest coupon rates for the debts, National Treasurer Rosalia de Leon said in a statement.

Subscriptions for the issue reached US$10.5 billion, or 4.5 times more the size of the offering.

"The strong demand for this bond issue demonstrates the resiliency of investor interest in the Philippine economy despite the global economic fallout from the Covid-19 pandemic,” Finance Secretary Carlos Dominguez said in the same statement.

In January, the Philippines, one of Asia’s most active issuers of sovereign debt, raised €1.2 billion (RM5.67 billion) by selling its first ever zero coupon three-year euro-denominated bond and securing the lowest coupon ever for a nine-year deal.

The Philippines is raising funds to help finance its 4.1 trillion pesos (RM353 billion) budget this year, part of which has been used to fund measures to address the economic and health impact of the coronavirus outbreak. — Reuters