The Bureau of the Treasury (BTr) has fully awarded the reissued 10-year treasury bonds during yesterday’s auction as it fetched a lower rate.
With a remaining term of four years and nine months, the security fetched an average rate of 5.805 percent.
This is lower than the coupon rate of 6.25 percent set on its first issuance in April 2018 and the previous five-year auction result.
The auction was 1.7 times oversubscribed with total tenders reaching P41.7 billion.
With its decision, the BTr raised the full program of P25 billion.
This brings the total outstanding volume for the series to P100.2 billion.
The BTr also fully awarded bids for the treasury bills auctioned last Monday as rates were aligned with secondary market levels.
The auction was 1.8 times oversubscribed with total bids reaching P27.7 billion.
The BTr raised the full program of P15 billion for the treasury bills sale.
