Philippine Bond Offering Cut to $1 Billion for 2018

The Philippines plans to issue $1 billion in bonds offshore next year, which is only half of previous offerings, as the government relies more on loans and grants from China and Japan. Of the P888.1 billion in gross borrowings programmed for 2018, 80.2 percent or P711.8 billion will be sourced locally. Finance officials said they expect $1.8 billion from China and Japan to come in starting this year, part of the two countries’ commitments…

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