The Bureau of the Treasury (BTr) partially awarded the reissued treasury bonds it auctioned yesterday.
With a remaining term of 19 years and 10 months, the reissued bond series fetched an average rate of 7.017 percent.
In comparison, the Bloomberg Valuation Service reference rate for the 20-year tenor is 6.799 percent.
Had a full award been made, the rate would have been 7.142 percent, 95.3 basis points higher than the previous average of 6.189 percent.
The auction was 1.2 times oversubscribed with total tenders reaching P34.9 billion.
With its decision, the BTr raised P16.6 billion out of the P30 billion offering.
This brings the total outstanding volume for the series to P76.6 billion.
Last Monday, the BTr fully awarded bids for the auctioned treasury bills amid significant demand for the short-term IOUS.
The auction was three times oversubscribed, attracting P44.8 billion in total tenders.
The BTr raised the full program of P15 billion for the said auction.
