BTr raises P15B at auction

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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.

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“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

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