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Gov't sells P10-B worth of RTBs at 10.625%.(Business)
- Article from:
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Manila Bulletin
- Article date:
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September 1, 2005
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The government sold P10 billion in five-year retail Treasury bonds yesterday, fetching a coupon rate of 10.625 percent in the first such offer in more than a year.
The retail offering, which the government will use to plug its budget deficit, carries lower yields than regular Treasury bonds, enabling the government to borrow more cheaply.
The government said last week the retail offering would allow it to scrap issuances of treasury bonds with maturities of two, three and four years for the rest of 2005.
The Bureau of Treasury plans to offer as much as P30 billion more of the paper to retail and institutional investors up to Sept. 6 to help fund the budget ...