The Bureau of the Treasury (BTr) fully awarded the new seven-year treasury bonds auctioned yesterday as the coupon rate fell below the prevailing secondary market rates.
The coupon rate for the government IOUs settled at six percent.
The Bloomberg Valuation Service rate for the same tenor is 6.008 percent.
The auction was 2.5 times oversubscribed with total tenders reaching P61.8 billion.
With its decision, the BTr raised the full program of P25 billion.
Last Monday, the BTr partially awarded bids for the auctioned treasury bills as it capped rates across all tenors.
The auction was 1.2 times oversubscribed with tenders totaling to P17.6 billion.
The BTr raised P10.6 billion of the P15 billion total offering for the short-term securities. – Angela Celis
