Manila, Jan. 22 -- The Philippines on Tuesday (London time) issued EUR 1.2 billion worth of three and nine-year Euro-denominated bonds at EUR600 million each tenor and with the shorter-dated paper fetching a zero-percent coupon rate.
National Treasurer Rosalia De Leon, in a message shared by Finance Secretary Carlos Dominguez III to journalists Wednesday, said the three-year Euro bond fetched a yield of 0.10 percent at zero-coupon with a spread of 40 basis points over benchmark.
She said the nine-year debt paper has a coupon rate of 0.75 percent, lower than the 0.875 percent the Philippines' eight-year Euro bond issued in May 2019 fetched.
De Leon said while fair value of the Philippines' Euro bond issued last year was 67 basis points ov...