PSALM says may raise $1B via peso bonds in 2011

Reuters

Posted at Oct 28 2010 11:35 AM | Updated as of Oct 28 2010 07:35 PM

MANILA, Philippines - The Philippines' Power Sector Assets and Liabilities Management Corp (PSALM) plans to raise $1 billion by selling local currency bonds in the first quarter of next year, its president said on Thursday.

"The government will need to borrow next year to address maturing Napocor (National Power Corp) debt amounting to $1.2 billion," Emmanuel Ledesma, PSALM chief executive and president told reporters.