Philippines plans to offer US$3.9 billion T-bills and T-bonds in April

MANILA, April 2 (Reuters): The Philippines' Bureau of the Treasury has announced this week that it plans to raise up to 200 billion pesos (US$3.85 billion) from T-bill and T-bond auctions in April.

The weekly T-bill offer will remain at 15 billion pesos, comprising 5 billion pesos each for 91-day, 182-day and 364-day bills.

The government will also offer 35 billion pesos of T-bonds each week, with tenure of three, four, seven and 10 years, it said in a memorandum to government securities dealers.

In another development, shares in Philippines' Bank of Commerce rose 1.8% in its stock exchange debut on Thursday following a 3.37 billion pesos ($65 million) initial public offering, the country's fourth public share sale this year.

The bank, owned by conglomerate San Miguel Corp, is the first lender to list on the country's stock exchange in nine years.

Its shares rose as high as 4.8% in its first trading day, versus its IPO price of 12 pesos per share. ($1 = 51.86 Philippine pesos). - Reuters