In observance of the Holy Week, the Philippine News Agency’s online news service will be off on March 29, Good Friday, and March 30, Black Saturday. Normal operations will resume on March 31, Easter Sunday.

— The Editors

PH to issue Panda bonds by Nov.

By Joann Villanueva

October 3, 2017, 8:38 pm

MANILA -- National Treasurer Rosalia de Leon said Tuesday the government is focused on issuing its first renminbi-denominated Panda bond this year and is discounting any plan to issue other debt instruments overseas.

“For now, we're really working on the Panda market. We're not coupling it with any Dimsum issuance,” she said.

Panda bond is a renminbi-denominated debt paper issued by a non-Chinese issuer in China.

Finance officials said the Philippine government is just awaiting regulatory approval from Chinese authorities for the planned Panda bond issuance around November.

The government is considering the issuance of three- to five-year Panda bonds with a minimum amount of USD200 million.

The government has an 80-20 borrowing mix in favor of domestic fund sources and de Leon said this is the reason why they are not looking at issuing more debt instruments overseas this year aside from the Panda bond.

“Besides, we're ending the fiscal year already, so what we will be focusing on will be next year's borrowing program,” she said.

Asked about the government’s options for its foreign borrowing in 2018, de Leon said they are open to the possibility of issuing US dollar-denominated bond and the yen-denominated Samurai bond.

The Samurai bond is issued in Tokyo by a non-Japanese issuer.  (PNA)

Comments