THE Bureau of the Treasury (BTr) has fully awarded bids for the reissued 20-year treasury bonds during yesterday’s auction amid healthy demand for the government IOUs.
With a remaining term of 19 years and 11 months, the bond series fetched an average rate of 6.86 percent.
The Bloomberg Valuation Service reference rate for the 20-year tenor is 6.831 percent. The auction was 1.7 times oversubscribed with total tenders reaching P51.1 billion.
With its decision, the BTr raised the full program of P30 billion.
This brings the total outstanding volume for the series to P52.7 billion. Last Monday, the BTr fully awarded bids for the auctioned treasury bills as rates across all tenors fell below prevailing secondary market rates.
Total tenders for the short-term securities reached P39.8 billion, about 2.7 times oversubscribed.
The BTr raised the full program of P15 billion for the auction.
