By Reshmi Basu
New York, Sept. 11 - 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 5.439%. The low rate accepted was 5.243% while the high rate was 5.50%.
Of the PHP 2.505 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 960 million 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 5.933%. The low rate accepted was 5.895% while the high rate was 5.975%.
Of the PHP 5.535 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 2.25 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 6.903%. The low rate accepted was 6.875% while the high rate was 6.95%.
Of the PHP 7.075 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 2.485 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
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Total amount: | PHP 6 billion
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Issue: | Treasury bills
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Pricing date: | Sept. 11
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Settlement date: | Sept. 13
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91-day bills
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Amount: | PHP 2 billion
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Maturity: | Dec. 13, 2006
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Average rate: | 5.439%
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Average price: | 98.644
|
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182-day bills
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Amount: | PHP 2 billion
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Maturity: | March 14, 2007
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Average rate: | 5.933%
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Average price: | 97.088
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364-day bills
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Amount: | PHP 2 billion
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Maturity: | Sept. 12, 2007
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Average rate: | 6.903%
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Average price: | 93.476
|
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