The Bureau of the Treasury (BTr) has fully awarded bids for the 10-year treasury bonds it auctioned yesterday amid strong demand for the government securities.
The total tenders for the government IOUs amounted to P84.2 billion, more than twice oversubscribed.
The auction committee raised the full program of P35 billion.
The reissued bonds, with remaining life of nine years and 24 days, fetched an average rate of 3.719, lower than the comparable secondary market benchmark and yield of 4.614 percent upon its last reissue.
“Liqudity from RTB (retail treasury bond) redemptions looking for home,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
De Leon said that the BTr also opened the tap facility window for the same tenor for another P10 billion.
According to the tap facility auction result posted on the BTr website, tenders amounted to P20.38 billion, with the government awarding the additional P10 billion as planned.
