MANILA, Philippines - The government will limit its sale of retail Treasury bonds at P10 billion ($220 million) a day for the duration of the public offer of the bonds running from August 10 to 17, deputy treasurer Eduardo Mendiola said on Tuesday.
The offer of 5, 7, and 10-year retail bonds was oversubscribed at nearly P63 billion, with the government offering a combined P25 billion for the three tenors.
At Tuesday's auction, the Bureau of Treasury made a full award of P10 billion, with tenders for the 5-year retail bond reaching P26.42 billion. The 5-year coupon paper fetched a rate of 5.875%.
For the 7-year retail Treasury bonds pegged at 6.625%, the government sold P10 billion. Tenders totaled P21.673 billion.
The government also raised P5 billion for the longer-termed 10-year bonds which fetched a coupon rate of 7.25%. The tenders for the debt paper amounted to P14.864 billion. with a report from Reuters