By Reshmi Basu
New York, Jan. 8 - The Philippines Bureau of the Treasury said it sold PHP 4.8 billion of Treasury bills in three tranches.
The Treasury sold PHP 700 million of 91-day bills. Investors were asking for an average rate of 3.795% for the bonds. The low rate was 3.749% and the high was 3.84%.
Of the PHP 3.165 billion competitive bids received, PHP 300 million bids were accepted. Of the PHP 1.39 billion non-competitive bids received, PHP 400 million bids were accepted. The Philippines had planned to sell up to PHP 500 million of the 91-day bills.
The Treasury also sold PHP 2.1 billion of 182-day bills at an average asking rate of 4.317%. The low rate accepted was 4.25% while the high rate was 4.348%.
Of the PHP 9.69 billion competitive bids received, PHP 900 million bids were accepted. Of the PHP 4.85 billion non-competitive bids received, PHP 1.2 billion bids were accepted. The Philippines had planned to sell up to PHP 1.5 billion of the 182-day bills.
And the Treasury sold PHP 2 billion of 364-day bills at an average asking rate of 4.604%. The low rate accepted was 4.50% while the high rate was 4.698%.
Of the PHP 10.535 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 3.87 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 4.8 billion
|
| Issue: | Treasury bills
|
| Pricing date: | Jan. 8
|
| Settlement date: | Jan. 10
|
|
|
| 91-day bills
|
| Amount: | PHP 700 million
|
| Maturity: | April 11, 2007
|
| Average rate: | 3.795%
|
| Average price: | 99.05
|
|
|
| 182-day bills
|
| Amount: | PHP 2.1 billion
|
| Maturity: | July 11, 2007
|
| Average rate: | 4.317%
|
| Average price: | 97.864
|
|
|
| 364-day bills
|
| Amount: | PHP 2 billion
|
| Maturity: | Jan. 9, 2007
|
| Average rate: | 4.604%
|
| Average price: | 95.552
|
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