• The Philippines is looking to raise 400 billion pesos ($7.2 billion) of treasury bonds being marketed to retail investors this month while watching the market for its next global bond offer, according to National Treasurer officer-in-charge Sharon Almanza.
• The Bureau of the Treasury sold an initial tranche of 212.7 billion pesos retail bonds at a price-setting auction on Tuesday. The five-year bond, which comes with an offer to exchange eligible holdings with the new issue, were priced at a coupon of 6.25%. The bonds will be offered to the general public through Feb. 23.
• Bond sales to retail investors are a big source of financing for the Philippine government, which this year must raise 2.46 trillion pesos from foreign and local sources to plug a budget deficit and repay debts.