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The Bureau of the Treasury (BTr) partially awarded bids for the fresh 13-year treasury bonds auctioned yesterday as the rate was aligned with the secondary market level.
The BTr set the coupon rate for the new government securities at 6.25 percent.
The comparable rate in the secondary market was 6.281 percent.
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Had a full award been made, the coupon rate would have been 6.375 percent.
“Want to align rates with secondary level,” Rosalia de Leon, national treasurer, told reporters yesterday.
The auction was 1.95 times oversubscribed as total submitted bids amounted to P48.8 billion.
With its decision, the BTr raised P19.5 billion out of the P25 billion offering. – Angela Celis
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