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 September.
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 September.
Tenors to be issued include two three-year bonds, seven-year securities and 10-year IOUs. The programmed volume of offering for every treasury bonds auction remains at P30 billion each.
Meanwhile, the BTr fully awarded the reissued 10-year treasury bonds during yesterday’s auction.
With a remaining term of five years and four months, the reissued securities fetched an average rate of 6.22 percent, lower than the original coupon rate of 6.875 percent set on its original issuance in January 2019 and current secondary market benchmark rates.
The auction attracted P54.5 billion in total tenders, 1.8 times the offer.
With its decision, the BTr raised the full program of P30 billion.
