The Bureau of the Treasury (BTr) has fully awarded bids for the fresh three-year treasury bonds during yesterday’s auction.
The coupon rate for the newly issued IOUs was set at six percent.
The Bloomberg Valuation Service reference rate for the three-year tenor is 5.921 percent.
The auction was 1.8 times oversubscribed as total submitted bids amounted to P53.3 billion.
With its decision, the BTr raised the full program of P30 billion.
Last Tuesday, the BTr upsized the volume of awarded treasury bills on the first auction for the year amid significant demand for the short term-IOUs.
The BTr raised P17 billion from the treasury bills auction, P2 billion higher than the P15 billion program.
The auction was 2.7 times oversubscribed, attracting P39.9 billion in total tenders.
This prompted the BTr to double the accepted volume of non-competitive bids for the six-month securities.
