MANILA, Philippines ? (UPDATE) The government raised $1 billion (P44.1 billion) in the maiden issue of 10-year, peso-denominated global bonds Friday, the Finance Department said Friday.

National Treasurer Roberto B. Tan said the new issue was priced at 99.607 percent with a coupon of 4.95 percent and a yield of 5 percent.

?The peso global bond is expected to enhance the government?s debt investor profile while paving the way for greater participation by offshore investors in the Philippine capital markets,? Tan said.

The bonds, which had a yield of five percent, attracted bids over 13 times the offer, the department said in a statement, adding that this showed confidence in the economic agenda of newly-elected President Benigno Aquino III.

"This is a landslide vote of confidence by the global financial markets in [Aquino's] leadership... as well as in the macroeconomic fundamentals of the country," Finance Secretary Cesar Purisima was quoted as saying in a report by Agence France-Presse.

The bond offering also showed that the Philippine peso was now being accepted as an overseas bond, the department said.

"Now, we can lessen the issuance of dollar bonds in the future."

Orders for the securities came from the United States, Europe and Asia, the department said, although it did not give a breakdown.

Aquino took office in June after winning May 10 elections by a landslide after running on an anti-corruption platform.

He has vowed to spur economic growth by building infrastructure, fighting tax evasion and making it easier to do business in this country.