THE Bureau of the Treasury (BTr) has fully awarded the reissued 20-year treasury bonds at yesterday’s auction amid healthy demand for the government IOU.
The auction was nearly twice oversubscribed with total tenders reaching P57.1 billion.
With its decision, the BTr raised the full program of P30 billion.
This brings the total outstanding volume for the series to P313.3 billion.
With a remaining term of seven years and one month, the reissued bond fetched an average rate of 6.624 percent.
In comparison, the Bloomberg Valuation Service reference rate for the seven-year tenor is 6.616 percent.
Last Monday, the BTr fully awarded bids for the auctioned treasury bills as rates fell below prevailing market rates.
The auction was nearly three times oversubscribed, attracting P44 billion in total tenders.
The BTr raised the full program of P15 billion for the auction.
