Philippines raises $423 mln from T-bond auction; yield rises

MANILA, April 12 (Reuters) – Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of re-issued 2026 T-bonds on Tuesday:

* BTr accepts bids of 22.027 billion pesos ($422.78 million), less than its 35 billion pesos offer and against total tenders of 45.907 billion pesos

* Average yield at 4.968%, up from previous average yield of 4.669%

* The bonds were first issued in April, 2021

* Details on the BTr’s website www.treasury.gov.ph

($1 = 52.10 Philippine pesos)

(Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor)

((enrico.delacruz@tr.com))