BTr opens tap facility

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    The Bureau of Treasury said it has opened its tap facility to issue another P15 billion of three year-maturing treasury bond, after the agency received strong interest in its initial P30 billion auctioned for the da.

    National Treasurer Rosalia de Leon said the government is inclined to tap further into the three year-maturing issuance given what the government sees as sweet spot with lower duration risk.”

    This follows after the Bureau awarded in full the P30 billion three-year treasury Tuesday after it fetched 2.375 percent during the auction, lower than the 4.75 percent coupon for the last three-year bond issue in July 2019.

    The auction attracted total tenders of P87.9 billion, almost 2.9x the offer.