Philippines rejects all bids for 2025 T-bonds

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)

((enrico.delacruz@tr.com;))