(NAR) VOL. IV NO. 2 / JANUARY - APRIL 1993
As defined, 1992 Bonds shall mean:2. The second paragraph of Section 31 shall read:
"The 1992 Philippine Bonds, the Interest Reduction Bonds and the Principal Collateralized Interest Reduction Bonds issued by the Republic of the Philippines, pursuant to the Bond Issuance and Exchange Agreements all dated July 1, 1992, among the Issuer, the Central Bank, the financial institutions parties thereto and Chemical Bank, as Closing Agent thereunder, as amended, supplemented or otherwise modified from time to time. For purposes of this Circular, 1992 Bonds eligible for conversion shall be to the extent of the Central Bank debt converted into these types of bonds"; and
"The Monetary Board may adopt a multiple or tiered redemption pricing system for bids considering the different prices of the eligible Bonds in the secondary market which shall be announced at least a week before the scheduled auction date."Adopted: 26 Feb. 1993