Philippines to Halve 2015 Global Bonds Amid Local-Debt Bias
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The Philippines may offer about $750 million in global bonds in 2015, half the overseas debt it sold this year as it taps increasing domestic liquidity.
Of the 700.8 billion pesos ($16 billion) borrowing planned for next year, 86 percent, or 605.1 billion pesos, will probably be raised locally and the remaining 95.7 billion pesos from international markets, Treasurer Rosalia de Leon said in a mobile-phone message reply to questions yesterday. The offshore fundraising will include official development loans.