Philippine Airlines has priced its debut international bond offering at US$300 million, securing fresh capital for fleet modernization and network expansion. The five-year senior unsecured notes carry a 7.75 percent fixed coupon with an 8.00 percent yield, maturing on 16 July 2031. Primero Agila Limited executed the deal, led by Deutsche Bank and BNP Paribas, with bonds listed on the Singapore Exchange. Investor demand reached US$1.4 billion, reflecting an oversubscription rate of approximately 4.5 times. This transaction marks the first rated high-yield bond issued by a Philippine corporate entity in over a decade and the first unsecured rated high-yield debt from an Asian airline. The proceeds will support new flights to the Middle East, North America, Japan, and Australia as the carrier continues its post-pandemic recovery.