New Issue: Philippines auctions PHP 1.25 billion 8.88% bonds due 2018 to yield 8.76%

By Richard Connell

New York, Nov. 18 - The Philippines Bureau of the Treasury announced that it sold PHP 1.25 billion 8.875% bonds due Nov. 20, 2018 to yield 8.755%.

For the PHP 6 billion offering, bids were tendered for PHP 6.525 billion and accepted for PHP 1.25 billion.

Yields ranged from 8.375% to 8.95% with an average yield of 8.755%.

Issuer:	Philippines Bureau of the Treasury
Issue:	Treasury bonds
Amount:	PHP 1.25 billion
Maturity:	Nov. 20, 2018
Coupon:	8.875%
Yield:	8.755% (average)
Auction date:	Nov. 18
Settlement date:	Nov. 20

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