The Bureau of Treasury said it sold just P13.04 billion of its scheduled P35 billion reissued five-year bonds.
A total of P35.31 billion tenders were made for the bonds that will consolidated with its previously issued tranche, fetching an average coupon rate of 4.669 percent.
The issue bonds has a remaining term of four years and 23 days and has an outstanding volume of P260.1 billion for the series.
National Treasurer Rosalia de Leon said the partial award was made in the backdrop of rates that continue to rise “as market remains defensive and watchful for FOMC (Federal Open Market Committee) decision on rate hike.” De Leon there is also a “lingering concerns on higher inflation.”
Author
- Advertisement -
