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
The United States Department of Agriculture (USDA) raised its forecast for Philippine dairy production this year
The Cement Manufacturers Association of the Philippines (CeMAP) expects cement demand to remain flat this year,
The Food and Drug Administration (FDA) urged consumers to exercise caution when buying squishy toys, warning
Jollibee Foods Corp. (JFC) has identified more than 1,500 potential locations for new stores in the
Manila Electric Co. (Meralco) is on track to achieve a record consolidated core net income of