Gov't faces P2.2bn debt bill in September

Known as BW008, the bond is part of government’s domestic borrowing programme which in 2011 was increased to a limit of P15 billion. The bond matures on September 8, the end of its 10-year tenure, meaning government has to pay out investors holding the bonds at that point.

BusinessWeek has learnt, however, that fiscal authorities could effect a bond rollover, where rather than paying out the outstanding billions, existing investors are offered the opportunity to invest in new government bonds at rates proportionate to what they held in BW008.