Philippine Airlines (PAL) has increased the size of its maiden international bond offering to $350 million, up from an initial $300 million target.
The carrier disclosed the expansion on Friday, citing robust demand from institutional investors for the debt issuance.
The upsizing comes shortly after PAL announced significant new aircraft orders with both Boeing and Airbus, reinforcing the airline’s strategy to expand its fleet and route network.
The additional capital raised through the bond sale will likely support these fleet renewal efforts and broader operational growth plans.
This marks PAL’s first foray into the international bond market, a move that diversifies its funding sources beyond domestic banks and local currency debt.
The successful upsizing suggests that global investors view the Philippine carrier’s credit profile favorably, despite the broader economic uncertainties facing the aviation sector.