By Richard Connell
New York, July 20 - The Philippines Bureau of the Treasury announced that it sold PHP 8.5 billion in a reopening of its 7% bonds due March 31, 2017 for an average yield of 6.809%.
For the PHP 8.5 billion offering, bids were tendered for PHP 13.469 billion and accepted for PHP 8.34 billion.
Non-competitive bids were received and accepted for PHP 160 million.
The bonds were sold at an average price of 100.999, with prices ranging from 100.658 to 101.987.
Yields ranged from 6.625% to 6.873%, with an average yield of 6.809%.
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: | 100.999 (average)
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Yield: | 6.809% (average)
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Auction date: | July 20
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Settlement date: | July 22
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