November 8, 2012 / 8:01 AM / in 5 years

Philippines launches 10-year global peso notes offer

MANILA, Nov 8 (Reuters) - The Philippines launched a 10-year global peso notes issue, with pricing expected later on Thursday, to raise funds to buy back expensive foreign debt as part of its debt liability management programme.

Manila has an authority from the Philippine central bank to sell as much as $1 billion of the local-denominated bonds.

Rosalia de Leon, head of the International Finance Group, said the bonds would be priced on Thursday New York time.

HSBC, Credit Suisse and Deutsche Bank were appointed as joint global coordinators and deal managers.

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