By Angela McDaniels
Tacoma, Wash., Feb. 15 - The Republic of the Philippines reopened its 8% treasury bonds due Sept. 30, 2035 to add PHP 3 billion, according to a government notice.
The reopened bonds were sold in an auction on Tuesday. The average price was 98.507, resulting in an average yield of 8.14%.
The total demand for the PHP 9 billion offering was PHP 10.36 billion, of which PHP 7.36 billion was rejected.
The reopened bonds will settle on Thursday. The original issue settled on Sept. 30.
| Issuer: | Republic of the Philippines
|
| Issue: | Treasury bonds
|
| Amount: | PHP 3 billion
|
| Maturity: | Sept. 30, 2035
|
| Coupon: | 8%
|
| Average price: | 98.507
|
| Average yield: | 8.14%
|
| Auction date: | Feb. 15
|
| Settlement date: | Feb. 17
|
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