Proceeds of the issuance will be used for the company's general corporate purposes," JG Summit said. This also marks the first time in seven years that JG Summit has tapped the international debt capital markets, said deal arranger Hongkong and Shanghai Banking Corp. Ltd. (HSBC). "The transaction is the largest Philippine corporate international bond issuance to date," HSBC said, adding that it also secured the lowest yield ever for a 10-year dollar-denominated bond at a fixed rate of 4.375 percent per annum. Initial price guidance was set at 4.625 percent per annum but the final rates dropped to 4.375 percent amid robust demand. "The issue had a final order book of $6.6 billion, also the largest for a Philippine corporate to date," HSBC said.