By Reshmi Basu
New York, Dec. 11 - The Philippines Bureau of the Treasury said it sold PHP 6 billion of two-year Treasury bonds at par to yield 8½% in an auction Monday.
Investors were asking for an average rate of 5.647% for the bonds. The low rate was 5½% and the high was 5.70%.
Of the PHP 25.02 billion competitive bids received, PHP 6 billion bids were accepted. No non-competitive bids were received.
Issuer: | Philippines Bureau of the Treasury
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Amount: | PHP 6 billion
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Issue: | Treasury bonds
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Maturity: | Feb. 17, 2009
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Coupon: | 8½%
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Price: | Par
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Yield: | 8½%
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Pricing date: | Dec. 11
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Settlement date: | Dec. 13
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