By Angela McDaniels
Tacoma, Wash., March 17 – The Philippines accepted bids for PHP 25 billion of 3½% treasury bonds due 2021 on Tuesday, according to a government notice.
The bonds are a reopening of a PHP 25 billion issue that settled March 20, 2014. The total issue size is now PHP 50 billion.
The average price is 100.226, which results in an average yield of 3.458%. The low yield received was 3.35%, and the high yield received was 3.57%.
The republic offered PHP 25 billion of the bonds and received bids for PHP 35.3 billion of bonds. It received and accepted PHP 600 million of non-competitive bids.
| Issuer: | Republic of the Philippines
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| Issue: | Treasury bonds
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| Amount: | PHP 25 billion reopening
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| Maturity: | March 20, 2021
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| Coupon: | 3½%
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| Average price: | 100.226
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| Average yield: | 3.458%
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| Auction date: | March 17
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| Settlement date: | March 20
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| Total size: | PHP 50 billion
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