THE Bureau of the Treasury (BTr) has fully awarded bids for the auctioned treasury bills yesterday amid strong demand for the government IOU.
The 91-, 182- and 364-day securities fetched average rates of 5.605 percent, 5.752 percent and 5.790 percent, respectively.
In comparison, the Bloomberg Valuation Service reference rates are 5.508 percent for the three-month tenor, 5.765 percent for the six-month tenor and 5.737 percent for the one-year tenor.
The auction was almost three times oversubscribed, attracting P59.4 billion in total tenders.
With its decision, the BTr raised the full program of P20 billion for the auction.
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.
