Gov't to raise up to $750 million in debt issue

MELBOURNE, Australia -- The government plans to raise up to $750 million through a sovereign debt issue, with the timing of any debt raising to depend on market conditions, Finance Secretary Margarito Teves said Tuesday. "Within the quarter we should know," Teves told Reuters in an interview. "The approval has been made already. So, our treasurer and the deputy governor will decide exactly when, depending on market circumstances and market conditions," said Teves, who was in Melbourne to attend an APEC finance ministers meeting. Teves said the maximum amount to be raised would be $750 million. The amount would depend on how much the government was able to raise through taxes and privatization. "It could be anywhere from $500 million to $750 million, or even less, depending on whether we are able to generate more from internal... [read full story]