Philippines raises $481 mln from T-bond auction

MANILA, May 11 (Reuters) – Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of re-issued 2027 T-bonds on Wednesday:

* BTr accepts bids of 25.1 billion pesos ($480.57 million), below offer of 35 billion pesos and against total tenders of 55.297 billion pesos

* Average yield at 5.772%

* The bonds were first issued in May, 2017

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

($1 = 52.23 Philippine pesos)

(Reporting by Enrico Dela Cruz)

((enrico.delacruz@tr.com))