Philippines re-launches dollar bond

Lead managers HSBC, Salomon Smith Barney and UBS Warburg will begin a new accelerated bookbuild of a 10-year global today (Monday) after the deal failed to price on schedule at New York's open on Friday. The delay largely stems from confusing reports that the country's Finance Secretary Jose Camacho was resigning, which were then relayed across news wires and stopped the deal in its tracks.