Philippine treasurer says $9.5bln retail bonds sold in latest offer

Proceeds from the bond sale will help finance the government's pandemic relief and economic recovery initiatives

  
Pedestrians wearing protective face masks cross a street outside a shopping mall amid new cases of coronavirus, in Manila, Philippines, March 11, 2020.

Pedestrians wearing protective face masks cross a street outside a shopping mall amid new cases of coronavirus, in Manila, Philippines, March 11, 2020.

Reuters/Eloisa Lopez

MANILA - The Philippines' Bureau of the Treasury has sold 463.3 billion pesos ($9.53 billion) worth of three-year Retail Treasury Bonds, raising 411.8 billion pesos of fresh funds, National Treasurer Rosalia De Leon said on Thursday.

Proceeds from the bond sale, which initially raised 221.2 billion pesos at a Feb 9 auction for financial institutions and includes a bond exchange offer worth 51.5 billion pesos, will help finance the government's pandemic relief and economic recovery initiatives.

($1 = 48.60 Philippine pesos)

(Reporting by Neil Jerome Morales and Enrico Dela Cruz Editing by Ed Davies) ((enrico.delacruz@tr.com;))

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