THE reissued 10-year treasury bonds auctioned by the Bureau of the Treasury (BTr) yesterday attracted strong demand, prompting the government to fully award the securities.
With a remaining term of nine years and four months, the IOUs fetched an average rate of 5.967 percent.
This is lower than both its previous reissuance and the prevailing secondary market rate.
The auction was 3.2 times oversubscribed, with total tenders reaching P96.3 billion.
The BTr thus decided to raise the full program of P30 billion.
This brings the total outstanding volume for the series to P231.9 billion.
Amid the strong demand, the BTr opened the tap facility window for the said offering.
The government was able to raise an additional P5 billion from the tap facility offer.
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