According to the Manila Today newspaper, on July 18, it was reported that the Philippine government successfully completed a domestic bond exchange auction on July 15. The Bureau of the Treasury will issue new bonds worth 323.4 billion pesos on July 19 to exchange for 292.5 billion pesos of maturing bonds held by qualified investors. The bond exchange is a measure by the Philippine government to manage its debt and adjust and extend repayment terms.
(First published on: Philippine Commercial Attaché Substation)
