THE Philippines on Thursday announced the launch of a global bond sale aimed at raising as much as $2 billion in support of the government’s expansionary fiscal policy.
New 10-year dollar bonds due 2028 comprise the offer, the Bureau of the Treasury said in a notice.
An amount was not specified but National Treasurer Rosalia de Leon, in a text message, said that $1 billion out of the $2 billion would be used for liability management while the remaining $1 billion will be “new money” to be used for general purposes.
Finance Secretary Carlos Dominguez 3rd has said that the proceeds would be used for the government’s infrastructure program and budgetary support.
Citigroup, Credit Suisse, Deutsche Bank, Morgan Stanley, Standard Chartered and UBS are the lead managers of the bond offering, settlement of which has been scheduled for February 1, 2018. MAYVELIN U. CARABALLO