The Bureau of the Treasury (BTr) has fully awarded bids for the reissued seven-year treasury bonds yesterday amid strong demand for the government IOU.
With a remaining term of five years and 10 months, the reissued security fetched an average rate of 6.099 percent, lower than when it was last reissued in August as well as the prevailing secondary market rate.
The auction was three times oversubscribed with total tenders reaching P60.3 billion.
With its decision, the BTr raised the full program of P20 billion.
This brings the total outstanding volume for the series to P165.4 billion.
Last Tuesday, the BTr also fully awarded bids for the auctioned treasury bills as the short-term IOUs attracted strong demand from investors.
The auction was 7.2 times oversubscribed, as total tenders reached P72.2 billion.
The BTr fully awarded its program of P10 billion for the said government securities. – Angela Celis