Philippine Airlines (PAL) has increased its debut international bond offering by $50 million, raising a total of $350 million after strong demand from global investors.
PAL Holdings said the additional five-year fixed-rate senior notes, issued through its Cayman Islands subsidiary Primero Agila Ltd., carry a 7.75 percent coupon and will be consolidated with the original $300 million tranche due in 2031.
The proceeds, worth more than ₱20.5 billion, will fund the airline’s long-term capital needs, fleet modernization, and international route expansion.
The initial bond offering was oversubscribed by about 4.5 times, attracting more than $1.4 billion in orders and marking the first rated high-yield bond issuance by a Philippine company in over a decade.
PAL President Lucio C. Tan III said the successful offering reflects investor confidence in the airline’s post-restructuring recovery and long-term growth strategy.
Source: PhilNews24 | August 1, 2026
PAL RE-ENTERS OFFSHORE DEBT MARKET ON STRONG INVESTOR INTEREST
Latest from Business
Hiraya Water Corp., formerly PrimeWater Infrastructure Corp., has launched a P600-million project to rehabilitate and expand
The Sugar Regulatory Administration (SRA) has intensified efforts to combat the red-striped soft scale insect (RSSI)
President Ferdinand Marcos Jr. lifted the previous ban on new economic zone accreditations in Metro Manila,
President Ferdinand R. Marcos Jr. called for amendments to the 25-year-old Electric Power Industry Reform Act
The Philippines has concluded negotiations for its first free trade agreement with a Latin American country