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Published on 2/2/2010 in the Prospect News Emerging Markets Daily.

Philippines accepts no bids for PHP 8.5 billion 6¼% seven-year bonds

By Richard Connell

New York, Feb. 2 - The Philippines Bureau of the Treasury announced that it had accepted no bids during the reopening of its seven-year bonds held on Tuesday.

Of the total offering of PHP 8.5 billion, bids were received for PHP 8,425,000,000, all of which were rejected.

The seven-year bonds, which carry a 6¼% coupon, are due to mature on Nov. 16, 2016.


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