Gov't sets retail bonds sale, debt swap

Posted at 08/22/12 4:39 PM

MANILA, Philippines - The government is planning to sell retail bonds targeted at small local investors and a bond exchange in November, a Treasury official said.

National Deputy Treasurer Eduardo S. Mendiola said he will meet with the "top 10 performers" of the past retail treasury bonds sales and debt exchanges to get their proposals.

"Bond exchange will be after the retail bonds, definitely November," Mendiola said.

The government, Mendiola said, should get at least P60 billion from the retail bonds.

The government sold 15-year and 20-year bonds targeting individual investors last February.

Retail bonds are part of the government's savings mobilization program aimed to make government securities available to retail investors and to encourage Filipinos to save.