The Bureau of Treasury said it fully awarded the P15 billion Treasury bills it auction Monday, the government IOUs fetching interest rates lower than previous auctions.
The Treasury said that its 91-, 181-, and 364-day T-bills fetched average rates of 1.176 percent, 1.422 percent, and 1.649 percen, respectively.
These rates all lower than previous auction and secondary market trading levels, and attracted bids six times the allocated amount of P5 billion for each tenor.
“The auction was more than 6x oversubscribed as total submitted bids reached P92.5 billion, prompting the Committee to double the accepted non-competitive bids across all tenors,” the Treasury said.
The 91-day T-bill attracted P26.3 billion in tenders, the 181-day T-bills attracting P28.8 billion, and the 364-day T-bills attracting P37.3 billion.
“With its decision the Committee raised a total of P11 billioncompared to the P15 billion initial offer,” the Treasury said.
