By Sarah Lizee
Olympia, Wash., May 8 – The Philippines Bureau of the Treasury auctioned PHP 10 billion of its 4½% bonds due 2021 for an average yield of 4.703% in a Tuesday reopening, according to a notice.
Competitive bids were tendered for PHP 18,574,000,000 and accepted for PHP 9.15 billion. Non-competitive bids were tendered and accepted for PHP 850 million.
The bonds were sold at an average price of 98.855, with prices ranging from 99.238 to 98.737.
Yields ranged from 4.55% to 4.75%.
With this reissue, the total outstanding amount on the series is PHP 34.89 billion.
| Issuer: | Philippines Bureau of the Treasury
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| Issue: | Treasury bonds
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| Amount: | PHP 10 billion
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| Maturity: | Jan. 25, 2021
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| Coupon: | 4½%
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| Average price: | 98.855
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| Average yield: | 4.703%
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| Auction date: | May 8
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| Settlement date: | May 10 for add-on, Jan. 25 for original issue
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