By Reshmi Basu
New York, June 27 - The Philippines Bureau of the Treasury said it sold PHP 3.5 billion of seven-year Treasury bonds at par to yield 9 5/8% in an auction Tuesday.
The average rate asked for accepted bids was 9.504%. The low rate was 9 3/8%, and the high was 9 5/8%.
Of the PHP 18.171 billion competitive bids received, PHP 3.5 billion bids were accepted. No non-competitive bids were received. The Philippines had planned to sell up to PHP 3.5 billion of the bonds.
| Issuer: | Philippines Bureau of the Treasury
|
| Amount: | PHP 3.5 billion
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| Issue: | Treasury bonds
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| Maturity: | June 29 2013
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| Coupon: | 9 5/8%
|
| Price: | Par
|
| Yield: | 9 5/8%
|
| Pricing date: | June 27
|
| Settlement date: | June 29
|
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