The government raised P15 billion in its latest auction.
The Bureau of the Treasury (BTr) said its auction attracted a total of P36.9 billion for the 91-, 182- and 364-day Treasury bills (T-bills) for 2.5x oversubscription.
The BTr offered for sale P5 billion each of the three tenors, which it awarded at coupon rates of 5.778 percent for the 91-day, 5.995 percent for the 182-day and 6.1 percent for the 364-day securities, respectively.
“With its decision, the Committee raised the full program of P15.0 billion for the auction,” the BTr said.
The latest auction lowered the coupon of the benchmark short-term rates compared to the last auction in February, where the 91-day fetched 5.71 percent and the six-month tenor fetching 5.97 percent.
The coupon for the one-year T-bills, however, went up from 6.085 percent in the last auction. – Ruelle Castro