The Bureau of the Treasury (BTr) has fully awarded bids for the reissued five-year treasury bonds auctioned yesterday as it fetched lower rates.
Tenders for the securities, which had a remaining life of four years and seven months, reached P76.2 billion, more than twice oversubscribed.
The BTr awarded P35 billion as programmed.
The debt paper fetched a rate of 2.746 percent, lower than the original coupon rate of 3.375 percent set in April and the 3.295 percent recorded upon its latest reissue in May.
“(Federal Reserve Chair Jerome) Powell remarks during Jackson Hole provided guidance that taper will be decoupled from rate lift off,” Rosalia de Leon, national treasurer, told reporters via Viber yesterday.
The BTr also opened the tap facility for the same tenor for another P5 billion.
Last Tuesday, the BTr also fully awarded bids for the treasury bills it auctioned 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.
