President Bongbong Marcos’ economic team is gearing up for its inaugural Sukuk bond offering, with the aim of launching it either by the end of the year or in the first quarter of 2024.
During a press conference held in Dubai, National Treasurer Rosalia de Leon revealed that discussions are underway with potential underwriters regarding the necessary preparatory measures and the bond’s structural aspects. She emphasized the importance of meticulous planning to ensure a smooth issuance process.
“As for the timing, we’ve been told that there would be a 12-week preparatory lead time that would be needed, so hopefully we can do this before the end of the year or… the first quarter of 2024,” de Leon said.
De Leon further explained that, in terms of tenor, the team is aiming for a duration within the “sweet spot” of five to ten years. This strategic choice reflects the intention to attract a diverse range of investors, both small and institutional, to participate in the forthcoming offering.