MANILA - The Philippines has hired banks to arrange investor meetings in Europe to drum up interest in its planned bond issue in euros, according to capital markets publication Refinitiv IFR.
Deutsche Bank and UBS were appointed joint global coordinators and were bookrunners with BNP Paribas, Credit Suisse and Standard Chartered, Refinitiv IFR said.
Investor meetings will be held in Zurich, London, Paris, Frankfurt and Milan from April 26 to promote the bonds, which are expected to be rated Baa2/BBB/BBB.
Philippine National Treasurer Rosalia de Leon confirmed the planned offering, but only said "benchmark" when asked about the size of the issue. Benchmark offerings are typically at least $500 million in size.
The Philippines, one of Asia's most active sovereign bond issuers, is raising funds to help finance its 3.7 trillion pesos ($70.94 billion) budget this year.
It also plans to raise 6 billion yuan ($893.3 million) this year from issuing so-called Panda bonds in China, its second of such an offering.
Manila raised $1.5 billion in 10-year U.S. dollar bonds in January.
($1 = 6.7166 Chinese yuan) ($1 = 52.1560 Philippine pesos)
(Reporting by Karen Lema; editing by Gopakumar Warrier) ((karen.lema@thomsonreuters.com; +632 841-8938; Reuters Messaging: karen.lema.thomsonreuters.com@reuters.net))
