Philippine president approves $1 bln retail bond sale
MANILA, March 18 |
MANILA, March 18 (Reuters) - Philippine President Gloria Macapagal Arroyo has authorised the sale of up to $1 billion worth of retail bonds to Filipinos abroad, the national treasurer said on Thursday.
"The authority is up to $1 billion," Roberto Tan told Reuters in a phone interview. "We have enough headroom."
Tan also said the government has no plans to sell sukuk bonds at the moment, citing legal hurdles. (Reporting by Manolo Serapio Jr.; Editing by Jan Dahinten)
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