The Bureau of the Treasury (BTr) fully awarded the reissued 10-year treasury bonds during yesterday’s auction as it fetched lower rates.
With nine years and four months to maturity, the security fetched an average rate of 5.732 percent.
This is lower than the previous auction rate of 6.142 percent when it was reissued last April as well as prevailing secondary market benchmark rates.
The bonds were 2.7 times oversubscribed, attracting P66.7 billion in total tenders.
The BTr was able to raise the full program of P25 billion, bringing the total outstanding volume for the series to P190.0 billion.
Last Monday, the BTr reported mixed results in its treasury bills auction, as it decided to fully award bids for the 364-day IOUs while partially awarding the 91-day and 182-day securities.
“Partial award for 91-day and 182-day to align with secondary levels,” Rosalia de Leon, national treasurer, said.
The auction was three times oversubscribed, attracting P45.4 billion in total tenders.
With its decision, the BTr raised P11.1 billion of the P15 billion total offering. – Angela Celis
