MANILA -- The Bureau of Treasury (BTr) has managed to raise PHP9 billion during the PHP15-billion Treasury bills (T-Bills) auction Monday.
This is after the auction committee fully awarded the 91-day T-bills worth PHP5 billion at an average rate of 3.439 percent and the 182-day debt paper worth PHP4 billion settled at a rate of 3.958 percent.
BTr noted that yields for 91-day and 182-day debt papers were lower than the rates of the previous auction as well as secondary market levels.
On the other hand, the auction committee rejected all bids for the 364-day T-bills valued at PHP6 billion.
“The 364-day auction rates noticed higher than what was expected, leading to the rejection of all tenders,” the BTr said.
Monday’s auction was more than twice oversubscribed with total tenders reaching P30.34 billion. (PNA)
