The nation sold notes due in 5.5, 10.5 and 25 years, according to a person familiar with the matter who asked not to be identified because they aren’t authorised to comment. The 25-year bond, which is classified as sustainable, will yield 5.175%.

The Philippines raised US$2 billion in a May dollar bond deal that finance secretary Ralph Recto said at the time was part of its plan to generate about US$5 billion in funding from overseas markets this year.

The new offering was the largest of five note sales in the US currency on Wednesday, the most Asian issuers in six weeks, according to data compiled by Bloomberg based on deals with a minimum size of US$100 million.

The pickup in dollar-bond issuance, amid a seasonal pre-holiday slowdown in the US, follows a sluggish start to the month as global market tumult stemmed debt issuance.

Asian sales of such debt were just under US$10 billion as of earlier this week, barely a third of July’s volume, data compiled by Bloomberg show.

The Philippines has dollar notes which mature in both September and October. Its overseas issuance last year included US$3 billion three-part deal in January and a US$1 billion debut Islamic note in November.