Philippines to Issue Panda Bonds in Fourth Quarter to Support Infrastructure Investment
Xu Wei
DATE:  Sep 28 2017
/ SOURCE:  Yicai
Philippines to Issue Panda Bonds in Fourth Quarter to Support Infrastructure Investment Philippines to Issue Panda Bonds in Fourth Quarter to Support Infrastructure Investment

(Yicai Global) Sept. 28 -- A delegation from the Department of Finance of the Philippines has held a roadshow in China for the issuance of USD200 million (CNY1.32 billion) in panda bonds as part of the country's plans to attract investments from the country, state-run China News Service reported on Sept. 28.

The team, including Finance Minister Carlos G. Dominguez III; Director of Philippines National Economic and Development Authority Ernesto Pernia; Budget Minister Benjamin Diokno and the Minister of the Department of Public Works and Highways Mark A. Villar, visited Beijing on Sep. 27 to meet senior officials from the Chinese government and Shanghai on Sep. 28 to hold talks with Chinese business leaders about future economic development, Philippine media reported.

The Southeast Asian country will start a promotional campaign for the panda bonds, which are expected to be issued in the fourth quarter of this year, Carlos G. Dominguez III said. The panda bonds will be issued in three-year and five-year iterations.

The roadshow will also provide a platform to introduce potential investors to the country's Build Build Build infrastructure plan, in which the Philippine government will invest PHP8 trillion (USD150 billion) to PHP9 trillion over the next five years.

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Keywords:   Philippine,Panda Bonds