The Bureau of the Treasury (BTr) has partially awarded the reissued 20-year treasury bonds auctioned yesterday as investors sought higher rates for the offer.
With a remaining term of seven years and two months, the reissued securities was awarded at an average rate of 7.058 percent.
In comparison, the Bloomberg Valuation Service rate for the seven-year tenor is 6.94 percent.
Had a full award been made, the rate would have been 7.078 percent.
The auction was 1.2 times oversubscribed with total tenders reaching P36.8 billion.
With its decision, the BTr raised P27.5 billion out of the P30 billion offering.
This brings the total outstanding volume for the series to P283.3 billion.
Last Monday, the BTr fully awarded bids for the auctioned treasury bills.
The 92-, 183- and 365-day securities fetched average rates of 5.869 percent, 5.988 percent and 6.081 percent, respectively, ending lower, if not flat, from the previous auction.
The auction was 3.4 times oversubscribed, attracting P51.2 billion in total tenders.
The BTr raised the full program of P15 billion for the auction.
