Philippines looking to swap $3 bln of debt-source

MANILA Aug 26 (Reuters) - The Philippine government is looking to swap $3 billion of debt in a planned bond exchange programme later this year, a source with direct knowledge of the matter said on Thursday.

The source said the government wanted to swap $1.5 billion of debt maturing in five to nine years for bonds of more than 10 years, and 1.5 billion of bonds with more than 10 years of maturity for new debt of at least 20 years. (Reporting by Rosemarie Francisco; Editing by Kim Coghill)