Byline: Lee C. Chipongian
The Monetary Board of the Bangko Sentral ng Pilipinas (BSP) has given the Bureau of the Treasury (BTr) authority to issue P200-billion worth of five- and 10-year bonds for 2008.
This is P100 billion of new five-year bonds and an equal P100 billion of 10-year government securities.
The P200 billion is a gross amount and includes repayment of maturities.
Finance Undersecretary and BTr chief Roberto Tan said this year's program will give them enough headroom.
The BTr has been rejecting auction bids and cancelling auctions because of the undesirable pricerates. But the bureau is still receiving offers through other facilities that ...