The Bureau of the Treasury (BTr) fully awarded the reissued seven-year treasury bonds during yesterday’s auction amid healthy demand for the government IOUs.
With a remaining term of six years and nine months, the reissued security fetched an average rate of 6.299 percent.
This rate is 2.9 basis points higher than the previous average of 6.27 percent, as well as the Bloomberg Valuation Service rate of 6.239 percent for the seven-year tenor.
The auction was 1.3 times oversubscribed with total tenders reaching P40.2 billion.
With its decision, the BTr raised the full program of P30 billion, bringing the total outstanding volume for the series to P95 billion.
Last Monday, the BTr upsized the volume of awarded treasury bills amid significant demand for the short term-IOUs.
The BTr raised P17 billion from the treasury bills auction, P2 billion higher than the P15 billion program.
The auction was 3.2 times oversubscribed, attracting P47.8 billion in total tenders.
