Philippine Airlines (PAL) announced on Wednesday that it had priced its inaugural $300-million (P18.45-billion) international bond offering after receiving over $1.4 billion (P86.11 billion) in investor orders, according to a report by BusinessWorld.
The offering was oversubscribed about 4.5 times, reflecting strong investor demand for the carrier's debt. PAL plans to use the proceeds for general corporate purposes, including fleet modernization and debt repayment.
The successful bond sale marks PAL's first foray into the international bond market and signals renewed confidence in the airline's financial recovery amid a rebound in air travel demand.