By Susanna Moon
Chicago, July 26 – Republic of the Philippines sold another PHP 25 billion of 3½% treasury bonds due April 21, 2023 in a reopening of the issue on Tuesday.
The average price was 102.925 for an average yield of 3.016%, according to a term sheet. The prices ranged from 103.654 to 102.593 for a yield of 2.898% to 3.07%, respectively.
The notes were issued “on the back of strong demand for the security,” according to an announcement.
The add-on brings the total deal size to PHP 500 billion, “enhancing its secondary market tradability,” the company added.
Investors had tendered a total of PHP 44.73 billion of bids, of which the issuer accepted PHP 24.37 billion of competitive bids and PHP 633 million non-competitive bids.
| Issuer: | Republic of the Philippines
|
| Amount: | PHP 25 billion
|
| Description: | Treasury bonds
|
| Maturity: | April 21, 2023
|
| Coupon: | 3½%
|
| Average price: | 102.925
|
| Average yield: | 3.016%
|
| Auction date: | July 26
|
| Settlement date: | July 28
|
| Original issue: | April 21
|
| Total issue: | PHP 50 billion
|
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