By Angela McDaniels
Tacoma, Wash., March 29 - The Republic of the Philippines reopened its 5 7/8% treasury bonds due Jan. 31, 2018 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 was 97.578, and the average yield was 6.315%.
Demand for the bonds totaled PHP 18.19 billion. This included PHP 490 million of non-competitive bids, all of which were accepted.
The original issue settled on Jan. 31, 2008. The reopened bonds will settle on Thursday.
| Issuer: | Republic of the Philippines
|
| Issue: | Treasury bonds
|
| Amount: | PHP 9 billion
|
| Maturity: | Jan. 31, 2018
|
| Coupon: | 5 7/8%
|
| Average price: | 97.578
|
| Average yield: | 6.315%
|
| Auction date: | March 29
|
| Settlement date: | March 31
|
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