InfoAnda - Philippines raises $1 bln in peso bond issue

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Philippines raises $1 bln in peso bond issue AFP - 2 hours 1 minute ago Send IM Story Print Philippines raises $1 bln in peso bond issue Slideshow: Full Photo Coverage: Business & Economy MANILA (AFP) - – The Philippines has raised one billion dollars in its first offering of global bonds denominated in its local peso currency, the Finance Department said on Friday. The bonds, which had a yield of five percent, attracted bids over 13 times the offer, the department said in a statement, adding that this showed confidence in the economic agenda of newly-elected President Benigno Aquino. "This is a landslide vote of confidence by the global financial markets in (Aquino's) leadership... as well as in the macroeconomic fundamentals of the country," finance secretary Cesar Purisima was quoted as saying. The bond offering also showed that the Philippine peso was now being accepted as an overseas bond, the department said. "Now, we can lessen the issuance of dollar bonds in the future." Orders for the securities came from the United States, Europe and Asia, the department said, although it did not give a breakdown. Aquino took office in June after winning May 10 elections by a landslide after running on an anti-corruption platform. He has vowed to spur economic growth by building infrastructure, fighting tax evasion and making it easier to do business in this country. Recommend Send IM Story Print Related Articles US-BUSINESS Summary Reuters - 27 minutes ago Deutsche Bank fires first shot in rush for capital Reuters - 28 minutes ago Asia stocks hit 4-month high in cautious rise Reuters - 35 minutes ago European shares fall in early trade; banks slip Reuters - 37 minutes ago China stocks end up 0.3 pct, energy sector eyed Reuters - 41 minutes ago News Search Top Stories Deutsche Bank to unveil 9-bln-euro rights issue German central banker resigns after 'racism' furore Iran to free female US hiker Wall Street's super traders come under fire Europe needs 'quantum leap' in budget checks: ECB chief More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Climate: New study slashes estimate of icecap loss Vitamin B 'could delay Alzheimer's onset' Defiant Florida church says Koran burning to go ahead 78-year-old woman found alive after week missing in Alps US jobless claims drop faster than expected More Most Viewed » Climate: New study slashes estimate of icecap loss Earth's upper atmosphere shrinking, scientists say Tiger's ex breaks her silence on sex scandal Japanese rider Tomizawa dies in San Marino Moto2 GP 78-year-old woman found alive after week missing in Alps More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Yahoo! News Network Copyright © 2010 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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