* Six banks on shortlist for global peso bond - source
* Investor demand expected to be strong - govt
* Follow-up to maiden global peso bond in September
MANILA, Jan 3 (Reuters) - The Philippines has hired banks to sell global peso bonds with maturities of up to 25 years, part of the government's strategy to lengthen maturities and cut its foreign exchange exposure, Finance Secretary Cesar Purisima said on Monday.
He said the government expects investor demand to be strong given the market appetite for emerging market assets.
The size and timing of the issue had not been finalized, he said. Last week, a source said the central bank had given approval to issue up to $1.5 billion of the bonds.
"The government will be opportunistic in timing its borrowing," Purisima told reporters.
Purisima did not identify the banks hired for the debt
sale, but a source with knowledge of the borrowing plan said
six banks had been shortlisted: Citigroup , HSBC
, Credit Suisse , Deutsche Bank
In September, the country sold $1 billion of global peso bonds in Asia's first global local-currency debt issue. That offer attracted more than $13 billion of bids. [ID:nNSGE6880L]
Citigroup, HSBC, Credit Suisse, Deutsche Bank and JP Morgan were all involved in the September issue.
Capitalising on investor interest in fast growing emerging markets, officials have been looking to issue more peso-denominated debt to cut foreign exchange exposure, and also to lengthen the maturity profile by issuing longer-dated bonds, including through swaps of existing debt. [ID:nSGE6BD03X]
"We will continue to reduce foreign currency debt and continue to lengthen maturity. Any transaction that will bring us closer to that goal, we will do," Purisima said.
The Philippines is Asia's most frequent sovereign debt issuer in the global bond market, and usually makes an issue in January. (Reporting by Erik dela Cruz; Editing by John Mair) ((If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com)