New York, Nov. 20 - The Philippines Bureau of the Treasury said it sold PHP 2.155 billion of Treasury bills in two tranches.
The Treasury sold PHP 935 million of 182-day bills at an average rate of 5.238%. The low rate accepted was 5.075% while the high rate was 5.375%.
Of the PHP 1.725 billion competitive bids received, PHP 135 million bids were accepted. Of the PHP 1.1 billion non-competitive bids received, PHP 800 million bids were accepted. The Philippines had planned to sell up to PHP 2 billion of the 182-day bills.
The Treasury also sold PHP 1.22 billion of 364-day bills at an average rate of 5.505%. The low rate accepted was 5.245% while the high rate was 5.625%.
Of the PHP 2.090 billion competitive bids received, PHP 420 million bids were accepted. Of the PHP 1.3 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.
The Treasury sold no 91-day bills although it had been looking to sell up to PHP 2 billion. All PHP 1.95 billion bids were rejected.
| Issuer: | Philippines Bureau of the Treasury
|
| Total amount: | PHP 2.155 billion
|
| Issue: | Treasury bills
|
| Pricing date: | Nov. 20
|
| Settlement date: | Nov. 22
|
|
|
| 182-day bills
|
| Amount: | PHP 935 million
|
| Maturity: | May 23, 2007
|
| Average rate: | 5.238%
|
| Average price: | 97.42
|
|
|
| 364-day bills
|
| Amount: | PHP 1.22 billion
|
| Maturity: | Nov. 21, 2007
|
| Average rate: | 5.505%
|
| Average price: | 94.727
|
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