MANILA: The Philippines raised US$2.35bil in a bond sale, becoming the latest emerging nation to pay up for funds as governments seek to shield their economies from the coronavirus pandemic.
The South-East Asian nation, which is facing its worst deficit ratio in two decades, issued the securities in two parts. The 10-year notes were priced to yield 180 basis points over Treasuries, up from 110 basis points when it sold a similar note in January of last year.
