The Bureau of the Treasury (BTr) has fully awarded bids for the auctioned treasury bonds yesterday amid healthy demand and as rates fell within secondary market level.
The auction attracted P92.3 billion in total tenders, reaching 2.6 times the P35 billion offer.
With its decision, the BTr was able to raise the full program of P35 billion.
With nine years and six months to maturity, the security fetched an average rate of 6.258 percent, which is below the secondary market benchmark rate of 6.35 percent.
The accepted rate, however, was 34.5 basis points higher than the previous average of 5.913 percent.
Last Monday, the treasury bills auction ended with mixed results as the BTr decided to fully award bids for the 364-day paper while partially awarding the 91-day and 182-day securities.
The auction was two times oversubscribed, attracting P30.3 billion in total tenders.
With its decision, the committee raised P13.1 billion of the P15 billion total offering. – Angela Celis
