By Richard Connell
New York, Aug. 31 - The Philippines Bureau of the Treasury announced that it sold PHP 8.5 billion in a new issue of 7% bonds due March 31, 2017 at an average yield of 5.72%.
For the PHP 8.5 billion offering, competitive bids were tendered for PHP 21.005 billion and accepted for 5.935 billion.
Non-competitive bids were received and accepted for PHP 2.565 billion.
The bonds were sold at an average price of 106.929, with prices ranging from 106.788 to 107.087.
Yields ranged from 5.692% to 5.745%, with an average yield of 5.72%.
| Issuer: | Philippines Bureau of the Treasury
|
| Issue: | Treasury bonds
|
| Amount: | PHP 8.5 billion
|
| Maturity: | March 31, 2017
|
| Coupon: | 7%
|
| Price: | 106.929 (average)
|
| Yield: | 5.72% (average)
|
| Auction date: | Aug. 31
|
| Settlement date: | Sept. 2
|
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