RP issues $2.25B worth of debt warrants


Posted at Jun 02 2008 11:09 AM | Updated as of Jun 02 2008 07:09 PM


MANILA - The Philippines issued $2.25 billion worth of debt-exchange warrants to holders of its foreign currency bonds, higher than its earlier indicated ceiling of $1.75 billion, the government said on Monday.

The Philippines received bids of $2.9 billion for the warrants issue, the government said in a statement.  

The warrants, which give investors protection from default, were sold at $10.75 each, above the minimum indicative price of $10.50.