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, sai