off-the-wire

UPDATE 1-Philippines sells $5.1 billion worth of retail treasury bonds

Kitco Media
By Reuters
Published:
Updated:
Reuters
(Adds treasurer's comment, background) MANILA, Feb 15 (Reuters) - The Philippine government has sold a total of 283.71 billion pesos ($5.14 billion) of retail treasury bonds as the offer period ended on Wednesday, two days ahead of the original schedule, National Treasurer Rosalia De Leon said. Total sales from the 5.5-year T-bond issue include 31.67 billion pesos from a swap offer for bonds maturing this year, she said. The offer period began on Feb. 7.


De Leon said the government had decided to cap the volume amid strong demand for the new issue, which has a coupon rate of 6.125% and is part of this year's borrowing programme for budget financing. The government's previous


peso retail bond offer had raised 420.45 billion pesos, the first such issue under the administration of President Ferdinand Marcos Jr.
($1 = 55.20 Philippine pesos) (Reporting by Enrico Dela Cruz and Neil Jerome Morales; Editing by Kanupriya Kapoor)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.