The Bureau of the Treasury (BTr) has fully awarded bids for the seven-year treasury bonds auctioned yesterday amid significant demand for the government IOU.
The auction for the reissued securities was more than twice oversubscribed with total tenders amounting to P83.7 billion.
With its decision, the auction committee raised the full program of P35 billion.
The treasury bonds, with remaining life of six years and 10 months, fetched a yield of 3.685 percent, 0.7 basis points higher than the previous average of 3.678 percent.
“So far so good on the long (tenor),” Rosalia de Leon, national treasurer, said after the auction, adding that the BTr opened the tap facility window for the debt paper for another P7 billion.
According to the results posted on the BTr website, the P7 billion via the tap facility was fully awarded.
Tenders amounted to P25.78 billion, more than thrice the offering. – Angela Celis
