The Bureau of the Treasury’s (BTr) treasury bills auction ended with mixed results yesterday as the government capped rates across all tenors.
The BTr partially awarded the 91-day, 182-day and 364-day IOUs.
Rates were capped at 5.806 percent, 6.115 percent and 6.305 percent, respectively.
Had full awards been made, the rate would have been 5.819 percent for the 91-day paper, 6.13 percent for the 182-day IOU and 6.352 percent for the one-year securities.
The Bloomberg valuation service reference rates for the respective tenors are 5.712 percent, 6.011 percent and 6.244 percent.
The auction was 1.5 times oversubscribed, attracting P22.6 billion in total tenders.
With its decision, the BTr raised a total of P12.5 billion out of the P15 billion offering.
The BTr is set to auction off five-year treasury bonds today with a volume of P30 billion. – Angela Celis
