Philippines raises $408 million from T-bond offer

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of reissued 2030 and 2036 T-bonds on Tuesday:

BTr awards 25.16 billion pesos ($408.17 million), below the 30 billion to 50 billion pesos programme, of which:

• BTr awards 20 billion pesos worth of 2030 T-bonds at an average rate of 6.988%
• BTr awards 5.16 billion pesos worth of 2036 T-bonds at an average rate of 7.300%
• Tenders total 72.88 billion pesos