The Bureau of the Treasury (BTr) has fully awarded bids for the reissued seven-year treasury bonds auctioned yesterday.
The auction was 1.6 times oversubscribed with total tenders reaching P54.8 billion.
With its decision, the committee raised the full program of P35 billion.
“Rates are aligned with secondary levels,” Rosalia de Leon, national treasurer, told reporters via Viber after the auction.
With a remaining term of six years and eight months, the reissued securities was awarded at an average rate of 6.588 percent.
The Bloomberg Valuation Service reference rate for the seven-year tenor in the previous day was 6.4543 percent.
Last Monday, the treasury bills auction ended with mixed results as investors sought higher rates for the short-term IOUs.
The BTr decided to partially award bids for the 182-day securities while rejecting bids for the 91- and 364-day papers.
The auction was barely oversubscribed with total tenders reaching P16.3 billion relative to the P15 billion offering. – Angela Celis
