The Bureau of the Treasury (BTr) has fully awarded bids from the treasury bills auctioned yesterday amid healthy market demand for the short-term IOUs.
Demand for the 91-day, 182-day and 364-day securities reached P55.19 billion, more than thrice oversubscribed.
The BTr awarded P15 billion as programmed.
The 91-day paper fetched a rate of 1.077 percent, same as the yield fetched in the previous auction for the same tenor.
Tenders totaled to P15.58 billion, three times oversubscribed versus the P5 billion fully awarded offer.
For the 182-day securities, the rate is 1.405 percent, 0.3 basis points (bps) down from the previous average of 1.408 percent.
Demand reached P22.65 billion, more than four times the P5 billion program which was awarded.
Lastly, the yield of the 364-day IOU is 1.616 percent, up by 0.4 bps from the previous average of 1.612 percent.
Tenders amounted to P16.96 billion versus the P5 billion program.
The BTr earlier announced it is eyeing to raise P250 billion from the domestic market through its issuance of treasury bills and treasury bonds in September.
According to a memorandum posted by the BTr on its website, the government is programmed to borrow a total of P75 billion in treasury bills and P175 billion in treasury bonds. – Angela Celis
