Linklaters has advised the joint lead managers and bookrunners on the Republic of the Philippines’ (ROP) successful US$2.5bn triple-tranche SEC-registered global bond offering, representing the ROP’s second international capital markets issuance of 2026.
The transaction comprised US$550m 5.5-year bonds, US$1.65bn 10-year bonds and a US$300m tap of the Republic’s 2051 bonds. The offering attracted strong demand from international investors and was upsized from its initial US$2bn size, highlighting continued international investor demand for Philippine sovereign credit and the depth of global capital markets access available to sovereign issuers in Southeast Asia.
Linklaters has a long-standing relationship with the ROP, having advised on several strategic bond issuances in the past, including the US$2.75bn sovereign bond issuance in January 2026.
The Linklaters team was led by partner and Head of South and Southeast Asia Capital Markets Amit Singh and capital markets partner Xunming Lim, with support from counsel Grace Yumul-Villanueva.
With more than 50 years of on-the-ground experience in Asia, Linklaters has built a market-leading reputation in the region’s capital markets, providing clients with practical expertise and commercial insights to capitalise on opportunities. With one of the largest capital markets-focused teams in the region, the firm advises on high-profile and landmark transactions across debt and equity capital markets, including debt issuances by: The Republic of Indonesia, The Republic of the Philippines, The Lao People’s Democratic Republic, The Government of Malaysia, The Government of Singapore, The Government of the Hong Kong Special Administrative Region of the People’s Republic of China
