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Philippine goes to road show in Japan for Samurai bonds

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Staff Writer | June 18, 2018
Philippine economic managers are scheduled to visit Japan this week to discuss possible partnership prospects in infrastructure projects, as well as the planned issuance of the Samurai bonds.
Asia   Philippine economic managers are scheduled to visit Japan
In an emailed statement on Sunday, the Department of Finance (DOF) said the economic team will be in Tokyo from June 18 to 21 for the Philippine Economic Briefing (PEB) and the fifth regular meeting of the Philippines-Japan High-Level Committee on Infrastructure and Economic Cooperation.

"The PEB, which will lay out the Duterte administration's plan to sustain the Philippines' status as one of the fastest-expanding economies in Asia and its programs for inclusive growth, will also 'set the groundwork' for the deal roadshow that the government will roll out for its planned yen-denominated Samurai bonds issue," the department said.

Under the Build, Build, Build program, the government plans to spend over P8 trillion until 2022, largely funded by government revenues from taxes.

This year alone, the Philippines plans to roll out over 70 big-ticket projects cumulatively valued at $35.5 billion or P1.1 trillion.

The country earlier tapped five Japanese banks for the planned issuance — Mizuho Bank Ltd., the Daiwa Securities Group, Nomura Holdings Inc., Sumitomo Mitsui Banking Corp., SMBC Nikko Securities Inc., and MUFG Bank Ltd.