The government’s offer for the fresh 10-year treasury bonds during its auction yesterday saw significant demand, prompting it to open the tap facility window for the same tenor.
Tenders for the fresh issuance reached P102.2 billion, 3.4 times oversubscribed.
The BTr thus decided to raise the full program of P30 billion.
Due to the significant interest of investors, the BTr opted for a tap facility public offering for the 10-year IOUs for another P5 billion.
The said amount was immediately raised, with demand reaching P44.95 billion.
The coupon rate was set at 6.25 percent which is broadly inline with prevailing secondary market levels.Last Monday, the BTr fully awarded bids for the auctioned treasury bills amid healthy demand for the short-term IOUs.
The auction was 2.3 times oversubscribed, attracting P35 billion in total tenders.
The BTr raised the full program of P15 billion for the auction.
