Premier flag carrier Philippine Airlines (PAL) has priced additional fixed-rate US$50 million 5-year senior notes at a coupon rate of 7.75 percent.
The additional USD50 million was issued by Primero Agila Limited, a wholly-owned subsidiary of PAL. The notes will be consolidated and form a single series with the existing USD300 million 7.75 percent senior notes due in 2031.
In a disclosure to the Philippine Stock Exchange, PAL said that the Notes has set the pricing date July 31, 2026 with settlement date on August 6, 2026.
The PAL subsidiary is Primero Agila is based in the Cayman Islands and is used specifically to issue international bonds.
