Philippines Adds to Record Sovereign Debt Sales in Asia
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The Philippines sold $1.5 billion of bonds, adding to the busiest week for Asian sovereigns on record as slowing U.S. stimulus threatens to increase funding costs.
The nation, Southeast Asia’s fastest-growing economy, sold 10-year bonds to yield 4.2 percent, according to data compiled by Bloomberg. That brings total dollar-denominated issuance by Asian governments since Jan. 6 to $6.5 billion, the most in data compiled by Bloomberg going back to 1999. Indonesia and Sri Lanka sold $5 billion earlier this week.