The republic of the Philippines raised a capped ¥92bn (US$860m) from a four-tranche Samurai bond on Friday, a decent size after the Federal Reserve's FOMC statement and the escalating US-China trade war heightened market volatility. The offering comprised a ¥30.4bn 0.18% three-year tranche, a ¥21bn 0.28% five-year, a ¥17.9bn 0.43% seven-year and a ¥22.7bn 0.59% 10-year.
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