MANILA - The Philippines has launched a dollar bond sale to raise up to $500 million, with tenors of 5.5, 10.5 and 25 years, the Bureau of Treasury said.

The maturities are set at July 17, 2028, July 17, 2033, and Jan.17, 2048 respectively, Treasury said.

Proceeds from the dollar-denominated bond sale will be used for general budget financing, it added. Proceeds from the 25-year sustainability bonds will also be used for the refinancing of assets in line with the Philippines’ sustainable finance framework, it said.

The bonds carry the latest credit ratings of the Philippines, Baa2 Stable from Moody’s, BBB+ Stable from S&P, and BBB Negative from Fitch.

• S&P Global Ratings affirms Philippines' investment grade BBB+ rating
• Fitch affirms Philippines BBB rating but revises outlook to negative from stable

In October 2022 the Philippines launched the first US dollar bond offer under the Marcos administration. Tenders reached as much as $1.74 billion for that offer, which was sold locally. Treasury however opted to only sell $500 million in debt.

• Marcos admin borrows $2 billion from foreign lenders thru bonds to fund budget

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