The Marcos administration will again tap the overseas debt markets with its three-tranche US dollar dominated bond sale that aims to bridge the government’s budget deficit for the year.
Based on a document obtained by reporter, the Philippine government launched on Monday, Jan. 9, the benchmark-sized bond offer with tenors of 5.5-years, 10.5-years and 25-years. According to the document, the 25-year tranche comprised sustainability or green bonds.
Of that amount, the government sold $500 million worth of five-year bonds, $750 million of 10.5-year IOUs, and $750 million of 25-year green or sustainability bonds. Most of the government’s financing for 2023 would come from local sources, accounting for 75 percent of the total.
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