BTr raises P11B at auction

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    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.