MANILA, May 15 (Reuters) - The Philippine government is
pushing back a planned offering of U.S. dollar-denominated
retail bonds to the third quarter, when the exchange rate may be
more favourable for potential Filipino investors working
overseas, a senior finance official said.
National Treasurer Rosalia de Leon said the "aspiration" was
to raise $2 billion from the bond offering.
The government was previously looking at offering $2 billion
to $3 billion worth of retail dollar bonds in April, the
proceeds of which will be used to finance the government's
budget.
"We're oozing with cash, so we also have to calibrate in
terms of our borrowing. We're also looking at the good window
because right now the peso was at 56 (to the dollar)," de Leon
told reporters on Friday.
"For those who are buying dollars with their peso, that's
relatively high. So we're looking for a more comfortable
exchange rate so that they'll have an upside."
(Reporting by Enrico Dela Cruz; Editing by Mike Harrison)
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