Looks like the country’s economic team had a solid pitch.
The multi-city roadshow ecconomic managers conducted last month paid off.
As far as European investors are concerned, the country’s economic managers looked convincing enough for them to invest.
After 13 years, the Philippines returned to the European debt market with a bang, raising €750 million from the issuance of eight-year bonds.
According to ABS-CBN News, the government received bids amounting to €3 billion, six times the original target of €500 million.
Interest rates were pretty competitive at 0.875 percent, just 70 basis points above midswaps.