Emerging market countries lead way in foreign borrowing, deposits.
BASEL, Switzerland, Sept. 7 (AFP) Emerging market countries, notably in Asia, are proving to be among the most active international borrowers this year as well as the leading depositors in overseas banks, the Bank for International Settlements said Monday in its quarterly report. The BIS, which acts...

Banking group to raise $250-M NPC bridge loan.
The National Power Corp. has awarded to Citibank N.A./Salomon Smith Barney Hongkong Limited, Credit Lyonnais, Standard Chartered Bank and Sumitomo Mitsui Banking Corporation (collectively called the arrangers) the mandate to arrange a 1-year bridging loan facility of US$250 million with a full guarantee from Republic of the Philippines. ...

BSP raises $500-M to pay maturing debt.
The Bangko Sentral ng Pilipinas yesterday signed a loan agreement with a syndicate of 15 foreign and local banks to raise at least $500 million to repay debt maturing next month. The loan carries a five-year tenor; interest rate was set at a spread of 233 basis...

Housing strategy bared.
Lakas-NUCD National Chairman Rep. Jose de Venecia yesterday announced a ''strategic breakthrough'' in the effort to address the country's 4.5-million housing deficit and support President Arroyo's socialized and low-cost housing program. De Venecia said he has secured the commitment of the Bankers' Association of the Philippines (BAP)...

Terms for $500-M global bonds to remain unchanged.
Finance Secretary Jose Isidro Camacho remained unfazed yesterday by the negative impact of the reported loan default by the Argentinian government on the country's forthcoming $500 million 10-year global bond issue. "As far as I know nothing has changed," Camacho assured when asked by reporters in a...

T-bill rate up 10 basis pts., forex rate up too.
Byline: FIL C. SIONIL The financial markets moved yesterday with the Treasury bill yield rising and the peso-dollar rate almost breaching the R52-$1 psychological level. The 91-day T-bill yield, the benchmark used by banks in setting their shorterm lending rates, went up by 10 basis...

BSP gets $500-M term loan facility from 21 banks.
Byline: LEE C. CHIPONGIAN The Bangko Sentral ng Pilipinas recently arranged a $500-million term loan facility with 21 top foreign and local banks to refinance its obligations maturing in the second half of this year. BSP Governor Rafael Buenaventura, in concluding the term loans Friday...

NEWS IN BRIEF; Peso closes at P55.53.
The peso closed slightly higher at P55.53 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.56 the previous day. The weighted average rate appreciated to P55.536 from P55.649. Total volume amounted to $95.4 million. BTr rejects all...

P/$ rate at P56.38/$1.
The peso closed a new record low at P56.38 to the US dollar last Friday at the Philippine Dealing System of the Bankers Association of the Philippines. The weighted average rate stands at P56.32. MWSS sells $150-M bonds The Metropolitan Waterworks Sewerage System this week...

NEWS IN BRIEF; Peso closes at P55.11.
The peso closed higher at P55.11 to the US dollar yesterday at the Philippine Dealing System of the Bankers Association of the Philippines from P55.265 the previous day. The weighted average rate appreciated to P55.142 from P55.361. Total volume amounted to $169 million. BSP keeps rates unchanged...