Thursday 17 January
Jun 17, 2018 @ 18:50

It’s a go: DOF wants ‘samurai’ bonds issued by late 2018

 

The country wants to tap Japanese money for local infrastructure.

The Department of Finance is setting sights on tapping foreign investors to support the Build, Build, Build program. Apart from securing government-to-government loans from Japan, the state also wants to tap private money for the cause.

President Rodrigo Duterte’s economic team is heading to Japan this June for an economic briefing and roadshow to test the appetite for samurai bonds, or yen-denominated debt papers to be issued by the Philippine government.

In a statement, the Finance department said the target is to have these bonds offered within the “third or fourth quarter of 2018.”

Already, discussions have unfolded between the Philippine government and the Japanese banks Mitsubishi UFJ Financial Group (MUFG), Nomura, Mizuho, Daiwa, and the Sumitomo Mitsui Banking Corporation as possible arrangers.

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