The Bureau of the Treasury (BTr) has fully awarded bids for the new 15-year treasury bonds during yesterday’s auction amid healthy demand for the government IOU.
The auction was 1.6 times oversubscribed as total submitted tenders amounted to P47.5 billion.
With its decision, the BTr raised the full program of P30 billion.
The new issuance fetched a coupon rate of seven percent. The comparable Bloomberg Valuation Service reference rate for the same tenor is 6.716 percent.
Last Monday, the BTr’s treasury bills auction ended with mixed results as the rate was capped for the one-year paper.
The BTr decided to fully award bids for the 91- and 182-day securities while it opted to partially award the 364-day IOU.
The auction was 1.8 times oversubscribed, attracting P27.6 billion in total tenders.
With the partial award, the BTr raised P14.4 billion of the P15 billion total offering. – Angela Celis
