By Angela McDaniels
Tacoma, Wash., Jan. 10 – The Philippines Bureau of the Treasury sold PHP 15 billion of 3 3/8% three-year treasury bonds in an auction for an average yield of 3.364% on Tuesday, according to a notice.
The offering was oversubscribed, prompting the auction committee to open the Treasury’s tap facility for further subscription. The tap facility was scheduled to be opened from 8 p.m. ET on Tuesday to 2 a.m. ET on Wednesday for interested government securities eligible dealers.
In Monday’s auction, competitive bids were tendered for PHP 37.24 billion of the bonds at yields ranging from 3% to 3.475%. No non-competitive bids were received.
| Issuer: | Philippines Bureau of the Treasury
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| Issue: | Treasury bonds
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| Amount: | PHP 15 billion
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| Maturity: | Jan. 12, 2020
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| Coupon: | 3 3/8%
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| Average yield: | 3.364%
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| Auction date: | Jan. 10
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| Settlement date: | Jan. 12
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