BSP okays govt's $1.5-B global bond sale plan

Posted at 03/16/11 10:44 AM

MANILA, Philippines - The Bangko Sentral ng Pilipinas has approved in principle the national government's plan to issue up to $1.5 billion of 15- to 25-year global bonds, a government source said on Wednesday.

The country's overseas borrowings this year are estimated to reach $4.5 billion, including official development assistance loans.

Manila raised $1.25 billion from an offer of global bonds denominated in the local currency in January.