The Bureau of the Treasury (BTr) raised P25 billion from Treasury bills (T-bills) on Monday as robust investor demand drove borrowing costs lower.
Total tenders reached P156.4 billion, oversubscribing the auction by 6.3 times, the BTr said in a statement.
The heavy demand allowed the Auction Committee to fully award the offering at reduced rates.
The 91-day T-bill fetched an average rate of 5.046 percent, while the 182-day settled at 5.222 percent. The 364-day tenor averaged 5.376 percent.
All three were not only lower than their previous auction levels but also below prevailing secondary market benchmarks.
Author
- Advertisement -
