Philippines raises $404 million from T-bond offer

MANILA: Following are results of the Philippine Bureau of the Treasury’s auction of T-bonds on Tuesday:

Partially awards 25.38 billion pesos ($404.33 million), below 35 billion pesos offer, of which:

Awards 15.42 billion pesos offer of reissued 2030 T-bonds at an average rate of 7.678%.

Awards 9.96 billion pesos offer of reissued 2050 T-bonds at an average rate of 8.002%.

Tenders total 40.97 billion pesos.