MANILA – Appetite for the new 20-year Treasury bonds (T-bonds) was strong as it fetched bids three times higher than the PHP30-billion offer.
The Bureau of the Treasury (BTr) on Tuesday fully awarded the PHP30-billion T-bonds.
“The auction received strong demand, going more than three times oversubscribed as total submitted bids amounted to PHP91.4 billion,” the BTr said in a statement.
Tenders of PHP61.423 billion were rejected by the Auction Committee.
The BTr set the coupon rate for the new securities at 6.25 percent, which is below the prevailing secondary market rate.
The offered T-bonds fetched yields as low as 6 percent to a high of 6.328 percent. (PNA)
