PH returns to global dollar bond market

Moody's Ratings, which assigned a 'Baa2' rating to the bond offering, announced on Wednesday that the bonds would be issued from its existing shelf program, including tranches maturing in 2030, 2035 and 2049.'The bonds to be issued under the shelf program will constitute direct, unconditional and unsubordinated obligations of the government of the Philippines,' Moody's said.

The proceeds from the bonds will be used for general purposes, including budgetary support, in which part of the tranche maturing in 2049 will also fund projects eligible under the Philippines' Sustainable Finance Framework.The Bureau of the Treasury has not yet disclosed the amount it plans to raise from the bond issuance.

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