Economic managers will promote a planned panda bond issuance and investment prospects in the Philippines during a “non-deal” roadshow in China starting today, the Finance department said.
In a statement, Finance Secretary Carlos Dominguez 3rd said the Philippine delegation would be drumming up interest in the $200-million debt offering, tentatively scheduled to be launched during the fourth quarter “depending on market conditions.”
The Treasury bureau has said that regulatory approvals are the only remaining for the issuance of three-year and five-year panda bonds — renminbi-denominated debt sold in China by a foreign issuer.
Dominguez said the roadshow would also be an opportunity to inform potential investors of the “Build, Build’ Build” infrastructure program, where the government is planning to spend between P8 trillion to P9 trillion over the next five years.
The Philippine delegation is scheduled to meet with Chinese ministry officials today in Beijing. It will proceed the following day to Shanghai where a briefing on the Philippine economy will be held with Chinese business leaders.
Dominguez, who will be accompanied by Socioeconomic Planning Secretary Ernesto Pernia and Budget Secretary Benjamin Diokno, will discuss preparations for big-ticket infrastructure projects that will be partly funded by Chinese official development assistance.
They will be joined in Shanghai by Public Works Secretary Mark Villar and Bases Conversion Development Authority President Vivencio Dizon.
Earlier this year, Dominguez and China Commerce Vice Minister Fu Ziying formalized an agreement on the conduct of preliminary feasibility studies for the proposed Davao City Expressway and the Panay-Guimaras-Negros Island Bridges Project.
Pernia and Fu also signed the Six-Year Development Program that “aims to steer and promote the stable and orderly development of economic cooperation between the two countries.”