The government is eyeing to raise funds amounting to P585 billion in the second quarter of the year, through its regular issuance of treasury bills and treasury bonds.
According to a memorandum posted by the Bureau of the Treasury (BTr) yesterday, the government is eyeing to raise P195 billion via its treasury bills auction in April to June, and P390 billion by offering treasury bonds.
The treasury bills, which will be offered every Monday, will have a program of P15 billion per auction throughout the quarter.
Specifically, the volume of offering for the 91-day, 182-day and 364-day IOUs is P5 billion each.
As for the treasury bonds, the government has programmed P30 billion per auction.
The sale of the government’s longer-term securities is regularly held every Tuesday.
In April, the BTr is set to auction treasury bonds with tenors of seven, 10, 15 and 20 years.
For May, the BTr will auction three-, seven-, 10-, 15- and 20-year bonds.
Lastly, in June, there will be auctions for seven-, 10-, 15- and 20-year IOUs.
Meanwhile, the BTr yesterday fully awarded bids for its auctioned treasury bills as rates across all tenors fell below secondary market benchmarks.
The 91-, 182- and 364-day securities fetched average rates of 5.71 percent, 5.88 percent and 5.982 percent, respectively.
The auction was 3.4 times oversubscribed, attracting P50.5 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
