THE Bureau of the Treasury (BTr) raised P35 billion from the dual-tranche Treasury bonds (T-bonds) offer on Tuesday.
In a statement, the BTr said the Auction Committee fully awarded the reissued three-year and the new 25-year T-bonds as part of the dual-tranche T-bond auction.
With a remaining term of three years and two months, the reissued T-bond series fetched an average rate of 5.894 percent, settling lower than the prevailing secondary market rate.
The comparable three-year PHP Bloomberg Valuation Service yield was at 5.97 percent as of Jan. 27 this year.
“The auction was met with heavy demand, going nearly 5.0 times oversubscribed with total tenders reaching P74.6 billion. With its decision, the Committee raised the full program of P15.0 billion, bringing the outstanding volume for the series to P276.0 billion,” the BTr said.
For the 25-year Treasury Bonds, the Auction Committee awarded P20 billion with total tenders reaching P45.96 billion.
The coupon rate settled at 6.375 percent, similarly going below the secondary market benchmark.
The 25-year PHP BVAL yield as of Jan. 27, was at 6.43 percent.
The auction was also well received, with total tenders amounting to P46.0 billion or 2.3 times oversubscription for the first new 25-year T-bond since 2015. (PNA)
