Govt wants to develop global peso-bond market

To develop a market for peso bonds, the Aquino administration intends to sell more peso-denominated bonds with maturities of at least 10 years in the global market. Global peso bonds would be the preferred route government would like to take in raising funds that cushion the country from foreign exchange fluctuations, National Treasurer Roberto Tan said Tuesday. Raising funds by selling dollar-denominated bonds is not on the administration’s list right now in relation to fund raising. “There’s no plan to issue dollar debt right now," Tan told reporters. “We’re looking at the opportunities which are there," Tan said, referring to the best deal government could get in the global bond market. Banks have already submitted proposals for a possible peso-denominated bond sale next year and government is now studying the matter, he said. Apart from peso-denominated global bonds, Tan said swapping foreign-currency debt with peso bonds is another option government is looking at in reshaping the global market. — VS, GMANews.TV