The Bureau of the Treasury (BTr) is eyeing to raise P180 billion from the domestic market, through its issuance of treasury bills and treasury bonds for the month of July.
According to a memorandum posted by the BTr on its website yesterday, the government is programmed to borrow a total of P60 billion in treasury bills and P120 billion in treasury bonds.
The BTr will offer P15 billion in treasury bills per auction next month.
The 91-day, 182-day and 364-day treasury bills will be auctioned every Monday, with volumes of P5 billion per tenor.
The BTr will also auction treasury bonds for every Tuesday of July.
Tenors to be issued include six-year bonds, seven-year securities, nine-year IOUs and a 15-year paper.
The programmed offering for every treasury bonds auction was raised to P30 billion each from the previous volume of P25 billion per tenor.
Meanwhile, the BTr fully awarded its reissued 10-year treasury bonds during yesterday’s auction.
With nine years and two months to maturity, the security fetched an average rate of 6.243 percent.
This is lower than the coupon rate of 6.75 percent set on its first issuance in September 2022.
The auction was 1.9 times oversubscribed with total tenders reaching P48.7 billion.
With its decision, the BTr raised the full program of P25 billion, bringing the total outstanding volume for the series to P240 billion.
