MANILA, Sept 15 (Bloomberg): The Philippines raised US$866 million from its debut sale of dollar bonds targeted at individuals as it seeks to expand funding from that lucrative investor pool.
In a two-part offering, 10-year retail notes were priced at 2.25% and five-year bonds at 1.375%, according to the Bureau of the Treasury.
While the debt sale is small compared with the US$3 billion of overseas notes sold by the government in June, individual investors are becoming a stalwart source of funding for the Philippines.
The sovereign raised about US$9 billion from a sale of peso-denominated retail bonds in March.