By Angela McDaniels
Tacoma, Wash., March 15 - The Republic of the Philippines reopened its 6 1/8% treasury bonds due Sept. 16, 2020 to issue an additional PHP 9 billion principal amount, according to a government notice.
The additional bonds were sold in an auction on Tuesday. The average price submitted was 91.621, and the average yield was 7.367%.
Demand for the bonds totaled PHP 18.75 billion. This included PHP 3.6 billion of non-competitive bids, all of which were accepted.
The original issue settled on Sept. 16, 2010. The reopened bonds will settle on Thursday.
| Issuer: | Republic of the Philippines
|
| Issue: | Treasury bonds
|
| Amount: | PHP 9 billion
|
| Maturity: | Sept. 16, 2020
|
| Coupon: | 6 1/8%
|
| Average price: | 91.621
|
| Average yield: | 7.367%
|
| Auction date: | March 15
|
| Settlement date: | March 17
|
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