The Bureau of the Treasury (BTr) said it has fully awarded the P35 billion treasury bond auctioned Tuesday, opening the tap facility for the reissued seven-year IOU as well.
The bond with six years and 10 months to maturity fetched an average rate of 3.826 percent, compared to the bond’s original coupon rate of 3.75 percent.
The auction attracted tenders worth P76.1 billion, more than twice the amount up for sale.
“With its decision, the committee raised the full program of P35 billion, bringing the total outstanding volume for the series to P130 billion,” the BTr said.
The BTr opened the tap facility for the treasury bond for another P5 billion.
National Treasurer Rosalia de Leon said the treasury bond’s interest rate went up “due to lingering inflation concerns.” – Ruelle Castro
