By Susanna Moon
Chicago, April 11 – The Philippines Bureau of the Treasury sold PHP 7,932,000,000 of its 5¾% bonds due 2025 for an average yield of 5.712% in an auction on Wednesday.
The bonds were sold at an average price of 100 for annual rates ranging from 5 3/8% to 5¾%, according to a notice.
Competitive bids were tendered for PHP 20,668,000,000. There were no non-competitive bids.
“Bid rates came lower than secondary market levels although the committee capped the auction as bids were mostly concentrated at 5.75% with minimal accepted bids at the upper range,” according to a separate press release.
| Issuer: | Philippines Bureau of the Treasury
|
| Issue: | Treasury bonds
|
| Amount: | PHP 7,932,000,000
|
| Maturity: | April 12, 2025
|
| Coupon: | 5¾%
|
| Average price: | 100
|
| Average yield: | 5.712%
|
| Auction date: | April 11
|
| Settlement date: | April 12
|
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