The Bureau of the Treasury (BTr) has fully awarded bids for the 10-year treasury bonds auctioned yesterday amid healthy demand for the government IOUs.
The auction attracted P71.2 billion in total tenders, 2.8 times the P25 billion offer.
With its decision, the BTr raised the full program of P25 billion.
With a remaining term of nine years and six months, the auctioned securities fetched a rate of 6.378 percent, 12 basis points higher than the previous average of 6.258 percent.
It is, however, lower than the original coupon rate of 6.75 percent set upon first issue last September 2022 and the secondary market benchmark rate of 6.4 percent.
Earlier this week, the BTr’s treasury bills auction ended with mixed results as rates were capped for the three-month and six-month securities.
The BTr decided to fully award bids for the 364-day paper while partially awarding the 91- and 182-day IOUs.
The auction was 1.3 times oversubscribed, attracting P20.1 billion in total tenders.
With its decision, the committee raised P9.7 billion of the P15 billion offering. – Angela Celis
