New Issue: Philippines prices PHP 25 billion add-on of 3 3/8% bonds due 2020 at 102.632

By Susanna Moon

Chicago, June 28 – Republic of the Philippines sold another PHP 25 billion of 3 3/8% treasury bonds due Aug. 20, 2020 in a reopening of the issue on Tuesday.

The average price was 102.632 for an average yield of 2.698%, according to a term sheet. The prices ranged from 102.526 for a yield of 2.725% to 103.02 for a yield of 2.6%.

Investors had tendered a total of PHP 84,093,000,000 of bids, of which the issuer accepted PHP 15.67 billion of competitive bids and PHP 9.33 billion non-competitive bids.

Issuer:	Republic of the Philippines
Amount:	PHP 25 billion
Description:	Treasury bonds
Maturity:	Aug. 20, 2020
Coupon:	3 3/8%
Average price:	102.632
Average yield:	2.698%
Auction date:	June 28
Settlement date:	June 30 for add-on, Aug. 20, 2015 for original issue

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