THE Bureau of the Treasury (BTr) has fully awarded bids for the treasury bills auctioned yesterday amid healthy demand for the short-term IOUs.
The auction was 2.8 times oversubscribed, attracting P56 billion in total tenders.
With its decision, the BTr raised the full program of P20 billion for the auction.
The 91-, 182 – and 364-day securities fetched average rates of 5.586 percent, 5.752 percent and 5.751 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.198 percent for the three-month tenor, 5.801 percent for the six-month tenor and 5.729 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.
The treasury bills, offered every Monday, will have a program of P20 billion per auction in the first eight weeks of the quarter.
Meanwhile, it will be reduced to P15 billion per auction for the succeeding four weeks.
As for the treasury bonds, the government has programmed volumes of offering ranging from P15 billion to P45 billion per auction.