By Reshmi Basu
New York, July 3 - The Philippines Bureau of the Treasury said it sold PHP 6 billion of Treasury bills in three tranches.
The Treasury sold PHP 2 billion of 91-day bills. The average rate asked for accepted bids was 6.074%. The low rate was 6%, and the high was 6.19%.
Of the PHP 4.42 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 1.95 billion non-competitive bids were received, PHP 800 million bids were accepted.
The Treasury also sold PHP 2 billion of 182-day bills. The average rate asked for accepted bids was 6.985%. The low rate was 6.9%, and the high rate was 7.125%.
Of the PHP 4.175 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 2.46 billion non-competitive bids were received, PHP 800 million bids were accepted.
And the Treasury sold PHP 2 billion of 364-day bills. The average rate asked for accepted bids was 7.815%. The low rate was 7.5%, and the high rate was 7.95%.
Of the PHP 7.275 billion competitive bids received, PHP 1.2 billion bids were accepted. Of the PHP 1.41 billion non-competitive bids were received, PHP 800 million bids were accepted.
Issuer: | Philippines Bureau of the Treasury
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Total amount: | PHP 6 billion
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Issue: | Treasury bills
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Pricing date: | July 3
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Settlement date: | July 5
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91-day bills
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Amount: | PHP 2 billion
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Maturity: | Oct. 4, 2006
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Average rate: | 6.074%
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Average price: | 98.488
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182-day bills
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Amount: | PHP 2 billion
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Maturity: | Jan. 3, 2007
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Average rate: | 6.985%
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Average price: | 96.589
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364-day bills
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Amount: | PHP 2 billion
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Maturity: | July 4, 2007
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Average rate: | 7.815%
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Average price: | 92.677
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