The RFP has been sent out to the regions top investment banks seeking pitches to raise the remainder of its $3.1 billion in overseas funding.
As has been standard with the Philippines under Treasurer Omar Cruz, the principles of the RFP will leave a lot of areas wide open to interpretation for the respective investment banks.
ôItÆs what we would expect from the Philippines treasury,ö says one investment banker. ôWe are all aware of the amount that the sovereign needs to raise, and they have provided a bog standard bid process...
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