MANILA -- The Philippine government on Tuesday launched its latest yen-denominated Samurai bond with three, five, seven and 10-year tenors, with a possible total issuance of between USD750 million and USD1 billion.
Earlier, National Treasurer Rosalia de Leon said they were considering the issuance of these four tenors but will only tap three, specifically the three-year, five- or seven-year and 10-year.
In an interview Tuesday, she said pricing will be done “hopefully within the week depending on the results.”
She explained that they can cut the offer period if there are strong demands but may also extend it until next week.
“We have to also see the reaction of the investors to the BOJ (Bank of Japan) policy setting today,” she said, referring to BOJ’s decision to keep rates steady but signaled readiness to cut “without hesitation.”
De Leon said they are issuing Samurai bonds again as part of the government’s diversification of its securities investments.
She said issuance date will be before the Japanese Buddhist holiday known as Obon, which will be between August 13 and August 15 this year, while settlement can be done after the holiday.
In August 2018, the Philippine government issued USD1.39 billion worth of multi-tenor Samurai bond namely three, five, and 10-year. (PNA)
