BSP raises $500M from foreign banks

The Philippine central bank said on Wednesday 31 March that it has raised 500 million dollars in financing from a syndicate of eight foreign banks.

The funds are to be used to refinance existing debt and meet general fund requirements, the Bangko Sentral ng Pilipinas (BSP) said in a statement.

The lenders are HSBC Ltd., HSH Nordbank AG, Standard Chartered Bank, Mizuho Financial Group, Sumitomo Mitsui Banking Corp., DBS Bank Ltd. and Mitsubishi Securities (HK) Ltd.

The bank, in a statement, said

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Geoeconomic reserve management

The world order is evolving. Whether, and how, the international economy remains integrated or shifts into spheres of influence has consequences for central bank policy and reserve management.

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