SINGAPORE (Dow Jones) – The Philippines has received suggestions from banks to look into selling euro-denominated bonds but the frequent international borrower isn't mulling an issue at this point, a senior government official said.

"There are some banks which came up with the idea. That's why we know there may be opportunities, but we're not thinking about it right now," National Treasurer Roberto Tan said on the sidelines of the Asian Bond Markets Summit organized by the Asset magazine and the Asian Development Bank.

Several issuers in Asia are expected to look into euro bond issuance as they diversify their funding sources away from dollars. The Philippine government has EUR1 billion in bonds that will fall due in February.

Tan said the government has finished its international bond sales for this year after raising $1 billion last month. It had also sold $1.5 billion in January and $750 million in July.

He also said that the government's borrowing plans for the fourth quarter won't change regardless of the likely size of its budget deficit.