Linklaters has advised the joint lead managers and bookrunners on the Philippine government’s USD2.5 billion triple-tranche global bond offering registered with the US Securities and Exchange Commission.
The issuance comprises USD550 million of 5.5-year bonds, USD1.65 billion of 10-year bonds and a USD300 million tap of the government’s 2051 bonds. The offering drew strong demand from international investors, with the order book reaching 4.4 times the amount offered, prompting an increase from the initial USD2 billion target size.
BNP Paribas, Citigroup, HSBC, JP Morgan, MUFG, and Standard Chartered Bank acted as joint lead managers and bookrunners.
The Linklaters team was led by the head of South and Southeast Asia capital markets, Amit Singh, and partner Xunming Lim, who had the support of counsel Grace Yumul-Villanueva.
Offering proceeds will be used for general budget financing.
