Philippines raises an initial USD 2.9 billion from retail bond sale

MANILA, Aug 23 (Reuters) – The Philippines’ Bureau of the Treasury (BTr) said it raised an initial PHP 162.72 billion (USD 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.

(USD 1 = PHP 56.200)

(Reporting by Karen Lema)