By Reshmi Basu
New York, Aug. 28 - The Philippines Bureau of the Treasury said it sold PHP 6 billion of Treasury bills in three tranches.
The Treasury sold PHP 2 billion of 91-day bills. All accepted bids were at 5.381%.
Of the PHP 2.385 billion competitive bids received, PHP 1.61 billion bids were accepted. Of the PHP 1.61 billion non-competitive bids received, PHP 800 million bids were accepted. The Philippines had planned to sell up to PHP 2 billion of the 91-day bills.
The Treasury also sold PHP 2 billion of 182-day bills at an average rate of 6¼%. The low rate accepted was 6.249% while the high rate was 6¼%.
Of the PHP 5.485 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 3.15 billion non-competitive bids received, PHP 800 million bids were accepted. The Philippines had planned to sell up to PHP 2 billion of the 182-day bills.
And the Treasury sold PHP 2 billion of 364-day bills at an average rate of 7.264%. The low rate accepted was 7.2% while the high rate was 7.3%.
Of the PHP 6.985 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 2.975 billion non-competitive bids received, PHP 800 million bids were accepted. The Philippines had planned to sell up to PHP 2 billion of the 364-day bills.
| Issuer: | Philippines Bureau of the Treasury
|
| Total amount: | PHP 6 billion
|
| Issue: | Treasury bills
|
| Pricing date: | Aug. 28
|
| Settlement date: | Aug. 30
|
|
|
| 91-day bills
|
| Amount: | PHP 2 billion
|
| Maturity: | Nov. 29, 2006
|
| Average rate: | 5.381%
|
| Average price: | 98.658
|
|
|
| 182-day bills
|
| Amount: | PHP 2 billion
|
| Maturity: | Feb. 28, 2007
|
| Average rate: | 6¼%
|
| Average price: | 96.937
|
|
|
| 364-day bills
|
| Amount: | PHP 2 billion
|
| Maturity: | Aug. 29, 2007
|
| Average rate: | 7.264%
|
| Average price: | 93.158
|
|
|
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