By Richard Connell
New York, June 8 - The Philippines Bureau of the Treasury announced that is sold PHP 8.5 billion in a reopening of its 7% bonds due March 31, 2017 for an average yield of 7.03%.
For the PHP 8.5 billion offering, bids were tendered for PHP 16.854 billion and accepted for PHP 8.265 billion.
Non-competitive bids were received and accepted for PHP 235 million.
The bonds were sold at an average price of 99.826, with prices ranging from 99.453 to 100.656.
Yields ranged from 6.875% to 7.1%, with an average yield of 7.03%.
Issuer: | Philippines Bureau of the Treasury
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Issue: | Treasury bond reopening
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Amount: | PHP 8.5 billion
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Maturity: | March 31, 2017
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Coupon: | 7%
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Price: | 99.826 (average)
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Yield: | 7.03% (average)
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Auction date: | June 8
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Settlement date: | June 10
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