What Happened
Airline Achieves Financial Milestone With First International Bond
Philippine Airlines has successfully raised $300 million through its first international bond offering, marking a major milestone in the airline’s financial recovery. The bond, which will pay investors 7.75% interest annually over five years, attracted strong interest from global investors, with offers totaling $1.4 billion, roughly 4.5 times the available amount. This oversubscription reflects confidence in the airline’s financial health following its restructuring in recent years. According to AeroTime, the bond offering sets several firsts for Philippine companies and Asian airlines.