Philippines raises 100 bln pesos through retail T-bond sale

Bogus U.S. government bearer bonds, allegedly found in a Filipino jungle, are displayed in a leather case in New York, U.S., on Thursday, Dec. 8, 2011. The bonds, bearing the signature of former U.S. Treasury Secretary Henry Morgenthau Jr. and totaling $50 billion, aren't the first cache of fake bonds to have emerged from the Philippines. Photographer: Scott Eells/Bloomberg

The Philippines raised 100 billion pesos ($2.1 billion) from the sale of retail treasury bonds, the government said on Monday.

The nine-day public offer for 3.5 percent 2026 bonds closed on Sept. 16.

Proceeds from the sale will be used to finance the government’s plan to increase infrastructure spending.

($1 = 47.9100 Philippine pesos)