Philippine sovereign sends RFP for potential dollar bond

The Republic of the Philippines yesterday sent an RFP for a potential dollar bond, setting up a race with Indonesia to see who can tap the market first.

The Republic of the Philippines has done it again. Just two months after raising $1 billion in the peso global market, the sovereign borrower is planning to return with a US dollar bond.

In a surprise move, the Philippines’ finance ministry yesterday sent a request for proposals to 10 to 15 banks for the potential bond issue, according to a source. The deadline for submissions is Friday March 11.

The Philippines,...

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