The Philippines may sell as much as $1.5 billion of overseas bonds in the remainder of the year to fund its budget deficit, following issuance of $2.67 billion in the first quarter, TreasurerRoberto Tan said today.
The issuance would comprise the first global sale of peso- denominated bonds and dollar notes that are to be offered as part of a debt exchange, Tan said. The government aims to trim overseas sales to about $2.5 billion next year, he said.
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