Government says retail bond sale likely under P100-B


Posted at Aug 10 2010 03:08 PM | Updated as of Aug 10 2010 11:32 PM

MANILA, Philippines  - The final volume of the Philippines' retail Treasury bond sale will depend on demand, but the government is not looking to raise P100 billion  ($2.2 billion) from the issue, National Treasurer Roberto Tan said on Tuesday.

The Bureau of Treasury's auction of 5, 7 and 10-year retail bonds on Tuesday attracted total bids of nearly P63 billion, more than double the P25 billion  of bonds on offer.

Manila will kick off a public offer of the bonds later on Tuesday.