THE Bureau of the Treasury (BTr) has fully awarded the reissued 20-year treasury bonds at yesterday’s auction as the offer saw a lower rate.
With a remaining term of 14 years and five months, the reissued securities fetched an average rate of 6.103 percent which is lower than the prevailing secondary market rate of 6.112 percent for the series and the 6.781 percent when it was last reissued.
The auction was 2.2 times oversubscribed with total tenders reaching P54.6 billion. With its decision, the BTr raised the full program of P25 billion.
This brings the total outstanding volume for the series to P 164.3 billion. Last Monday, the BTr upsized the amount it awarded for the auctioned treasury bills amid significant demand for the short-term IOUs.
The auction was 3.1 times oversubscribed with total bids reaching P61.3 billion. This prompted the BTr to increase the accepted non-competitive bids for the 182-day securities.
With its decision, the BTr raised a total of P22.6 billion compared to the P20 billion initial offer.
