Image via WikipediaMANILA, Philippines – The Philippine government may take advantage of lower interest rates environment and issue peso dominated bonds as early 2011, the Department of Finance (DoF) announced yesterday.
Finance Undersecretary Rosalia V. De Leon said in a mobile message to reporters that the national government is considering another round of global peso bonds next year after a maiden issue this year.
“Global peso is an option but we are still evaluating options how we'll refinance maturities,” De Leon said.
Last September, the government raised an equivalent of $1 billion from 2021 global peso bonds sale.
The peso-denominated bonds, which were settled offshore in US dollars, were priced at 99.607 percent, with a coupon of 4.95 percent.
Separately, National Treasurer Roberto B. Tan said yesterday the government will also consider selling peso global bonds due longer than 10-years next year.
“If and when we will issue, our preference is global peso,” Tan said.
http://www.mb.com.ph/node/291769/ph-may-i
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