Filed Pursuant to Rule 433
Registration Statement No. 333-163671
January 8, 2010
Republic of the Philippines
Reopening of Outstanding US$750,000,000 6.50% Global Bonds due 2020
Final Term Sheet
| Issuer | Republic of the Philippines | |
Issue currency | US$ | |
Amount issued | US$650,000,000 (brings total size of the issue to US$1,400,000,000) | |
Security type | Senior Unsecured Bonds | |
Coupon | 6.50% | |
Coupon dates | January 20 and July 20 | |
Maturity date | January 20, 2020 | |
Temporary CUSIP | 718286 BH9 (through January 20, 2010) | |
Permanent CUSIP | 718286 BF3 (from January 21, 2010) | |
Price to public | 106.25% | |
Proceeds, before fees and expenses | US$690,625,000 | |
Settlement date | January 13, 2010 | |
Reference benchmark | 3.375% UST due 2019 | |
Benchmark yield | 3.837% | |
Re-offer spread over benchmark | 183.7 bps | |
Re-offer yield | 5.674% | |
Denominations | US$100k/1k | |
Day count | 30/360 | |
Joint bookrunners | Barclays Bank PLC, Deutsche Bank Securities Inc. and The Hongkong and Shanghai Banking Corporation Limited |
The issuer has filed a registration statement (including a prospectus) with the Securities and Exchange Commission for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the issuer has filed with the Securities and Exchange Commission for more complete information about the issuer and this offering. You may get these documents for free by visiting EDGAR on the Web site of the Securities and Exchange Commission atwww.sec.gov. Alternatively, an underwriter or dealer participating in the offering will arrange to send you the prospectus if you request it by calling Barclays Capital toll-free at 1-888-603-5847 or Deutsche Bank toll-free at 1-800-50304611 or HSBC toll-free at 1-866-811-8049.
The prospectus can be accessed through the following link:http://www.sec.gov/Archives/edgar/data/1030717/000119312510002397/d424b3.htm
