The Bureau of Treasury (BTr) said it raised P13.1 billion of the planned P15 billion treasury bills (T-bills) auction Monday, partially awarding the allocation for the 91- day and 182-day maturities. It fully sold the 364-day tenor.
National Treasurer Rosalia de Leon said with bids rates going up as a result of the 50 basis points rate hike by the Bangko Sentral ng Pilipinas last week and the upward revision of the 2023 average inflation target to 6.1 percent, the agency decided to keep the government’s IOU rates “aligned with secondary level.”
The government was looking to issue P5 billion each of the three tenors with tenders reaching P30.3 billion for a two times oversubscription.
The 91-day T-bills attracted P7.33 billion in tenders, the 182-days attracted P10 billion, and the 364-days attracting P12.99 billion.
The BTr sold P3.55 billion of the 91-days at an average coupon of 4.413 percent.
It sold P4.5 billion of the 182-days at a coupon rate of 5.06 percent.
The fully sold 364-day T-bills meanwhile was awarded at a coupon rate of 5.455 percent. – Ruelle Castro
