The Bureau of the Treasury (BTr) has fully awarded bids for the reissued treasury bonds yesterday as it fetched lower rates.
The auction attracted total tenders of P58.6 billion, 2.3 times its offer.
With its decision, the committee raised the full program of P25 billion.
With a remaining term of six years and two months, the reissued securities fetched an average rate of 6.172 percent.
This is lower than the original coupon rate of 6.5 percent set on its first issue in May 2022 and the 6.588 percent average rate upon its last issuance in September 2022.
Last Monday, the BTr’s treasury bills auction ended with mixed results as investors sought higher rates for the short-term IOUs.
The auction was 1.5 times oversubscribed, attracting P22.7 billion in total tenders.
The BTr rejected bids for the 91-day paper while granting full award for the 182-day and 364-day securities.
With its decision, the committee raised P10 billion of the P15 billion offering.
