T-bills auction gains mixed results

By Kris Crismundo

July 2, 2018, 6:43 pm

MANILA -- The Bureau of Treasury (BTr) has awarded the 91-day Treasury-bill (T-bill) in full, while it will only make partial issuance of the 182- and 364-day securities, after rejecting some bids.

In Monday’s auction, the PHP4-billion 91-day T-bill fetched an interest rate of 3.404 percent.

This tenor was more than thrice oversubscribed as bids reached PHP14.44 billion.

“Meanwhile, the 182- and 364-day T-bills were partially awarded at an average of 3.937 percent and 4.566 percent, respectively,” the auction committee said.

The BTr accepted PHP3.04 billion for 182-day T-bill offered at PHP5 billion, while accepting PHP4.03 billion for the one year debt paper offered at PHP6 billion.

Both 182- and 364-day T-bills were oversubscribed.

“With its decision, the committee was able to raise PHP11.1 billion of the PHP15-billion program,” the BTr said.

Earlier, the BTr announced that the national government will be offering a total of PHP195 billion of T-bills in the third quarter of 2018. (PNA)