Philippines to issue up to $1.5bn global peso notes, dollar bonds

MANILA: The Philippines plans to issue as much as $1.5 billion in global peso notes and US dollar bonds, with some of the proceeds possibly funding a buyback of expensive foreign debt as part of a debt management programme, a senior government official said on Thursday.

Manila may sell up to $1 billion in peso-denominated global notes to foreign investors and as much as $500 million in dollar bonds in the local debt market, said Rosalia de Leon, head of the international finance group at the Finance Department.

She said the timing for the issues had yet to be set.