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(From Philippine Daily Inquirer)
Byline: Michelle V. Remo
STATE-OWNED HOME GUARANTEE CORP. (HGC) will issue P6 billion worth of zero coupon bonds tomorrow to raise the other half of its P12-billion borrowing requirement.
Gonzalo B.A. Bongolan, HGC president, said proceeds of the bond sale would be used to pay off maturing obligations, boost marketing of its disposable assets and service guarantee calls.
HGC, as stated under Republic Act No. 8763, is tasked to operate a credit guaranty program to support the governments efforts to promote home ownership.
HGC provides guaranty to housing loans extended by financial institutions to …