The Bureau of the Treasury (BTr) fully awarded the reissued 10-year treasury bonds during yesterday’s auction amid healthy demand for the government IOUs.
With a remaining term of five years and three months, the reissued bonds fetched an average rate of 6.512 percent.
This is 29.2 basis points higher than the previous rate of 6.22 percent, as well as the Bloomberg valuation service reference rate of 6.459 percent for the five-year tenor.
The auction was 1.4 times oversubscribed with total tenders reaching P40.8 billion.
With its decision, the BTr raised the full program of P30 billion.
This brings the total outstanding volume for the series to P355 billion.
Last Monday, the treasury bills auction ended with mixed results as the government capped rates across all tenors.
The BTr partially awarded the 91-day, 182-day and 364-day IOUs.
The government raised a total of P12.5 billion out of the P15 billion offering for the short-term securities.
