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Philippines Returns to International Debt Market

07 Jan

BY ANGPING & ASSOCIATES SECURITIES

The Philippines is returning to the international debt market with plans to sell new 25-year US dollar denominated bonds in a swap for shorter-dated notes as part of its proactive liability management strategy.

The government would issue bonds due 2040 in exchange for debt maturing from 2016 to 2034.

The new 25-year bonds are being marketed to yield 4.2%.

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The government was looking to issue $750.0 million to $1.0 billion in foreign currency denominated bonds to further pare down debt.

The Philippines’ last foray into international bonds markets was in January 2014 when it sold $1.5 billion worth of 10-year dollar-denominated bonds to take advantage of record-low interest rates and strong liquidity.

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Posted by on January 7, 2015 in Local News, Stock Market

 

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