Manila says looking into suggestions for global bond
Published: 23 Sep 2009 19:09:46 PSTMANILA, Sept 24 - The Philippines, one of Asia's largest sovereign debt issuers, is looking into investor suggestions to issue global bonds this year to prefund next year's borrowing needs, Finance Secretary Margarito Teves said on Thursday.
"The Philippine government is looking into suggestions from investment banks and hedge funds for the issuance of global bonds for pre-funding requirements next year in view of ample market liquidity and lower financing costs even for longer maturities," Teves said in a mobile phone text message to reporters.
The Philippines is looking to raise $2 billion in foreign bond issues next year to help finance its budget deficit. [ID:nMAN230489]
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