THE Bureau of the Treasury has fully awarded bids for the treasury bills auctioned yesterday amid healthy demand for the government IOUs.
The auction was 3.8 times oversubscribed, attracting P56.5 billion in total tenders.
With its decision, the BTr raised the full program of P15 billion for the auction.
The 91-, 182- and 364-day securities fetched average rates of 5.774 percent, 5.922 percent and 5.968 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.696 percent for the three-month tenor, 5.972 percent for the six-month tenor and 6.08 percent for the one-year tenor.
The government is eyeing to generate funds amounting to P310 billion in the last quarter of the year, through its regular issuance of treasury bills and treasury bonds. The BTr is looking to raise P220 billion via its treasury bills auction from October to December, and P90 billion by offering treasury bonds.
