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Economy
1 MIN READ
Philippines rejects all bids for 2025 T-bonds
March 1, 2022
By Reuters
By Reuters
MANILA, March 1 (Reuters) – The Philippines’ Bureau of the Treasury said it rejected all bids for a new offer of 2025 T-bonds at an auction on Tuesday, as banks sought high yields.
Tenders totaled 46.26 billion pesos ($903.52 million) against the bureau’s offer of 35 billion pesos.
The government, which also rejected all bids at Monday’s T-bill auction, has raised $8.9 billion through the sale of five-year retail bonds. nP8N2QO02D
($1 = 51.20 Philippine pesos)
(Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor)
This article originally appeared on reuters.com