MANILA – The Philippines raised $3.29 billion from the sale of U.S. dollar and euro bonds, including sustainability-focused offerings, to help finance its budget, its treasury bureau said on Friday.

The Philippines, among Asia’s most active issuers of sovereign debt, raised $2.25 billion from the sale of 10-year bonds and 25-year sustainability bonds, and 1 billion euros ($1.04 billion) from the sale of a seven-year sustainability bond, National Treasurer Sharon Almanza said in a phone message.

Fixed-income news service IFR reported on Friday that $1.25 billion of 10-year bonds were sold at 90 basis points above comparable U.S. Treasury bonds, reflecting strong investor demand, while the $1 billion 25-year sustainability bond was priced at 101.1 basis points over the same benchmark.

The euro tranche was sold at 125 basis points above the mid-swaps rate.

On Thursday, the Bureau of the Treasury said the proceeds would be used for general budget financing, with the two sustainability tranches also used to refinance assets in line with the Philippines’ sustainable finance framework.

Citigroup, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley, Standard Chartered and UBS were joint lead managers and joint bookrunners for the transaction, the bureau said. – Reuters