The Bureau of the Treasury (BTr) has partially awarded bids for the reissued 10-year treasury bonds during yesterday’s auction as the rate was capped for the government IOU.
With nine years and two months to maturity, the bond was capped at an average rate of 6.562 percent.
The said figure is 31.9 basis points (bps) higher than the previous average of 6.243 percent.
Had a full award been made, the rate would have been 6.574 percent, 33.1 bps up versus the previous average.
Demand for the securities was 1.8 times the offer of P30 billion, with total tenders reaching P52.8 billion.
With its decision to partially award the sovereign debt paper, the BTr raised P23.59 billion. This brings the total outstanding volume for the series to P263.6 billion.
Last Monday, the BTr also partially awarded the treasury bills it auctioned as rates were likewise capped across all tenors.
The auction was 1.2 times oversubscribed, attracting P17.4 billion in total tenders.
With the partial award, the BTr raised P9.2 billion of the P15 billion total offering.
