The Bureau of the Treasury (BTr) has raised P49 billion via its treasury bonds auction yesterday amid strong investor demand for the government securities.
The auction for the reissued IOUs was 3.8 times oversubscribed, attracting P134 billion in total tenders.
The BTr awarded P49 billion instead of the P35 billion program, as it doubled the allocation for non-competitive bids.
With a remaining term of 19 years and 10 months, the security fetched an average rate of 6.525 percent.
This is lower than the original coupon rate of 8.125 percent set on its original issuance last November as well as the comparable secondary market benchmark.
Last Monday, the BTr fully awarded bids for the auctioned treasury bills amid healthy demand for the short-term IOUs.
The auction was 3.1 times oversubscribed with total bids reaching P45.9 billion.
With its decision, the BTr raised the full program of P15 billion for the auction.
