The Philippines sold $1.5 billion worth of fresh 10-year dollar-denominated bond to the international market and used part of the proceeds to swap bonds maturing in 2015-2025.
The sale was made two years after the previous issuance and the first time after the country became an investment grade economy.
In a statement, the Department of Finance said the bonds were issued at a coupon rate of 4.20 percent.
NFUCIP releases P415,552
in insurance for crop losses
The Office of the Provincial Agriculturist has released P415,552 in crop insurance to 167 rice farmers in 13 towns and five cities in Negros Occidental last month, Dina Genzola, senior agriculturist, said yesterday.
The aid was released through the Negros First Universal Crop Insurance Program and the Weather Adverse Rice Area, Genzola said.
She also said the recipients are from the cities of San Carlos, La Carlota, Sipalay, Escalante and Cadiz and from the towns of Calatrava, Hinigaran, Hinoba-an, Manapla, Candoni, Pontevedra, Pulupandan, La Castellana, Valladolid, EB Magalona, San Enrique and Murcia.
‘Oil strike' reported in Cebu
An Australian company has reported an oil discovery in its exploration within the boundaries of Carcar City and Aloguinsan town in southern Cebu.
But Energy officials in Cebu could not immediately confirm the oil find until they receive the official report.
Department of Energy Visayas Director Antonio Labios said he will reserve his comment and assessment on the discovery until he gets hold of the official report from their head office.
"Yes, there is drilling in Malolos, Carcar. But we do not have yet the official report so I will reserve my comment on the matter," Labios said.