February 24, 2018, 10:28 pm
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Tender for $2B global bonds opens

The Bureau of the Treasury (BTr) has opened the tender for the $2 billion global bonds the government is offering for sale. 

The BTr in a notice to the public said the dollar-denominated bond is due 2028.

Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank Securities Inc., Morgan Stanley & Co. LLC, Standard Chartered Bank and UBS AG Hong Kong Branch will act as joint lead managers.

“The settlement of the New Bond Offering is expected to occur on February 1, 2018,” the BTr said.

“Application has been made to have the new bonds listed on the Luxembourg Stock Exchange and admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange,” it added.

The offer will raise for the government $1 billion in new money and another $1 billion to cover a bond swap. 

Carlos Dominguez III, finance secretary, said earlier the new money to be raised will be used for the government’s infrastructure program.

“Infrastructure spending is accelerating as announced earlier.We are already 11 percent more than last year, so we expect this acceleration to continue next year,” he said earlier.
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