Gov't retail bond sale below P100-B

Reuters

Posted at Aug 09 2010 01:01 PM | Updated as of Aug 10 2010 02:34 AM

MANILA, Philippines - The final sale amount from a Philippine retail treasury bond issue starting this week will be much less than P100 billion ($2.2 billion), National Treasurer Roberto Tan said on Monday.

Tan also said the government was keen on pursuing a dollar bond swap to lengthen the maturities of the country's debt. He told reporters he was keen on swapping 5-year sovereign bonds for 10-year debt and 10-year bonds for 20 or 25-year issues, with Manila possibly launching the debt swap later this year.

"There is no plan to go beyond 100 (billion pesos)," Tan said when asked about the government's retail bond sale. "We will issue much less than that."