A debt swap plan for at least P100 billion of government debt proposed by the First Metro Investments Corp. (FMIC) is likely to be implemented by the third quarter of the year as FMIC pursues to firm up talks with the Treasury department.
“We have a meeting with the [National] Treasurer [Roberto Tan] on May 10 to discuss the terms and conditions of our proposal to implement a debt swap this year. Hopefully, [we can implement it] by the third quarter this year,” Roberto Juanchito T. Dispo, president of FMIC, told reporters on the sidelines of the Asia Finance Summit on Tuesday.
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