THE Bureau of the Treasury (BTr) has fully awarded the reissued seven-year treasury bonds during yesterday’s auction amid healthy demand for the government IOUs.
In a statement, the BTr said the auction was 2.3 times oversubscribed with total tenders reaching P69.1 billion. With its decision, the BTr raised the full program of P30 billion.
This brings the total outstanding volume for the series to P219.7 billion. With a remaining term of four years and eight months, the reissued securities fetched an average rate of 6.058 percent.
This is lower than the 6.107 percent when it was last reissued.
Last Monday, the BTr upsized the amount it awarded for the auctioned treasury bills amid significant demand for the short-term securities.
The auction was 3.2 times oversubscribed, with total bids reaching P64.5 billion. This prompted the agency to double the accepted non-competitive bids for the 182-day securities.
With its decision, the BTr raised a total of P22.6 billion compared to the P20 billion initial offer.
