By Richard Connell
New York, March 16 - The Philippines Bureau of the Treasury announced that it sold PHP 8.5 billion in a re-issue of its 6½% bonds due Oct. 4, 2014 for an average yield of 6.09%.
The bonds were sold at an average price of 101.603, with prices ranging from 101.563 to 101.959.
Yields ranged from 6% to 6.1% with an average yield of 6.09%.
Competitive bids were tendered for PHP 23.91 billion and accepted for PHP 5.4 billion, while non-competitive bids were received and accepted for PHP 3.1 billion.
The bonds were originally issued on Oct. 4, 2007.
| Issuer: | Philippines Bureau of the Treasury
|
| Issue: | Treasury bonds
|
| Amount: | PHP 8.5 billion
|
| Maturity: | Oct. 4, 2014
|
| Coupon: | 6½%
|
| Price: | 101.603 (average)
|
| Yield: | 6.09% (average)
|
| Auction date: | March 16
|
| Settlement date: | March 18
|
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