Philippines raises an initial P162.72 billion from retail bond sale

August 23, 2022 - 4:44 PM
A man counts a wad of Philippine Peso bills he received from a relative working abroad at a money remittance center in Makati City, Metro Manila, Philippines September 19, 2018. (Reuters/Eloisa Lopez)

 The Philippines’ Bureau of the Treasury (BTr) said it raised an initial 162.72 billion pesos ($2.90 billion) in an auction on Tuesday of 2028 retail treasury bonds targeted at individual investors, with the coupon rate fixed at 5.75%.

Holders of previously issued fixed-rate treasury notes maturing this year and in 2023 can also swap their holdings for the peso-denominated retail bonds, the BTr said in a notice.

($1 = 56.2000 Philippine pesos)

—Reporting by Karen Lema

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