The Bureau of the Treasury (BTr) has fully awarded the reissued seven-year treasury bonds auctioned yesterday as it fetched a lower rate.
With a remaining term of six years and two months, the security fetched an average rate of 6.299 percent.
This is lower than the coupon rate of seven percent set on its first issuance in October 2022.
Meanwhile, it is comparable to the Bloomberg Valuation Service reference rate for the six-year tenor of 6.249 percent.
The auction was 1.9 times oversubscribed with total tenders reaching P57.8 billion.
With its decision, the BTr raised the full program of P30 billion, bringing the total outstanding volume for the series to P121.8 billion.
Last Monday, the BTr also fully awarded bids for the treasury bills auctioned as it saw lower rates across all tenors.
The 91-, 182- and 364-day securities fetched average rates of 5.884 percent, 6.095 percent and 6.226 percent, respectively.
The auction was nearly three times oversubscribed with total bids reaching P44.4 billion. The BTr raised the full program of P15 billion for the auction.
