- credit counseling is now a trend in the biggest industries in Asia. I searched about this topic and found some information on http://www.anewhorizon.org
debt swap = debt consolidation
The Bureau of the Treasury (BTr) on Wednesday said it will issue at least P30 billion worth of debt paper maturing in 2035, in the process creating a new benchmark rate for 25-year bonds. The BTr will also float P30 billion of new 10-year bonds maturing in 2020, in exchange for certain government securities that will fall due in 2011 and 2019.
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http://ph.news.yahoo.com/gma/20101201/tbs-govt-launches-debt-swap-creates-25-y-1da90e5.html
Such transactions are part of a peso bond swap initiated by the Aquino administration to manage the country’s domestic debt. The BTr is also asking holders of bonds maturing in 2011 and 2034 to sell these back to the government so that new investors could come in and buy the benchmark 25-year bonds. Proceeds from the subscription offer will “fund the tender offers from those who wish to sell their bonds back to the [government],” National Treasurer Roberto Tan said during the launch of the Domestic Debt Consolidation Program
source : Yahoo News Ph and GMAnews.tv
