BTr raises P11B at auction


    The Bureau of the Treasury said it sold half of its programmed auction for the day.

    The Treasury generated P11 billion of the scheduled P20 billion auction, selling the 91-day and 182-day securities at an average coupon of 1.15 percent and 1.589 percent, respectively. It rejected all bids for the 364-day maturities.

    The auction was more than 2.7x oversubscribed with total bids reaching P54.1 billion, prompting the committee to double the accepted non-competitive bids for the 91-day securities to P4 billion.

    The Treasury auctioned P5 billion for the 91-day T-bills, which attracted P26.3 billion in tender, resulting in the government selling P7 billion worth of securities.

    The 182-day T-bills, meanwhile, attracted P13.1 billion in tender for the P5 billion up for auction.

    The P10 billion 365-day T-bill, on the other hand, attracted P14.7 billion in tender.