MANILA -- The Bureau of Treasury (BTr) partially awarded 91-, 182-, and 364-day Treasury bills (T-bills) during Monday's auction.
In a statement, BTr’s auction committee said average rates across the three tenors were higher than previous biddings.
“Bids came in higher, prompting the body to cap 92-, 182-, 364-day T-bills rates at 3.484 percent, 3.873 percent, and 4.429 percent, respectively,” the auction committee said.
The bureau accepted PHP3.58 billion of tenders for the PHP5-billion 91-day debt paper. Total bids for this tenor reached PHP6.72 billion.
For the 182-day T-bills, the auction committee awarded PHP2.46 billion of the PHP4-billion offering. Tenders amounted to PHP5.68 billion.
On the other hand, the 364-day paper attracted a total of PHP7.85 billion worth of tenders. The BTr only accepted PHP5.85 billion of bids for the PHP6-billion program.
In total, the BTr was able to raise PHP11.9 billion from the PHP15-billion T-bills offering.
The debt papers were oversubscribed, with total tenders reaching PHP20.25 billion. (PNA)
