The Bureau of the Treasury (BTr) has partially awarded the 10-year treasury bonds auctioned yesterday, as it capped rates for the said government IOUs.
Tenders for the reissued securities reached P56.4 billion, 1.6 times the P35 billion offer.
The BTr opted to award P17.6 billion and rejected the rest.
Bids for the bonds, with remaining life of nine years and eight months, ranged between 6.2 percent and 6.49 percent.
Under a partial award, the BTr accepted a rate of 6.313 percent, 22.1 basis points (bps) higher than the previous average of 6.092 percent.
Had a full award been made, it would have gone up to 6.387 percent, 29.5 bps up versus the previous rate.
Last Monday, the BTr fully awarded bids for the auctioned treasury bills amid healthy demand for the short-term IOUs.
Total tenders for all tenors were more than 2.5 times oversubscribed as total submitted bids reached P37.6 billion.
The BTr raised the full program of P15 billion for the said auction. – Angela Celis
