By Tali Rackner
Norfolk, Va., Oct. 11 – The Philippines Bureau of the Treasury sold PHP 11.77 billion in an auction of its 3½% bonds due April 21, 2023, for an average yield of 3.605% on Tuesday, according to a notice.
The treasury initially offered PHP 25 billion of the bonds. Competitive bids were tendered for PHP 20.83 billion and accepted for PHP 10.52 billion.
Non-competitive bids were received and accepted for PHP 1.25 billion.
The bonds were sold at an average price of 99.394, with prices ranging from 99.999 to 99.136.
| Issuer: | Philippines Bureau of the Treasury
|
| Issue: | Treasury bonds
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| Amount: | PHP 11,772,000,000
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| Maturity: | April 21, 2023
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| Coupon: | 3½%
|
| Average price: | 99.394
|
| Average yield: | 3.605%
|
| Auction date: | Oct. 11
|
| Settlement date: | Oct. 13
|
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