MANILA -- The Bureau of Treasury (BTr) on Monday awarded both the 91-day and 182-day Treasury bills (T-bills) in full.
In an auction, the 91-day T-bill offered at PHP5 billion attracted total bids of PHP16.01 billion, while the 182-day tenor auctioned for PHP4 billion was more than thrice oversubscribed with bids amounting to PHP14.06 billion.
Yields for both tenors were lower than the previous bidding and secondary market levels, according to the auction committee.
“Average rates for the fully awarded 91- and 182-day T-bills settled at 3.437 percent and 3.879 percent, going below previous auction and secondary market levels,” the BTr said.
On the other hand, the treasury department partially awarded the 364-day debt paper at an average rate of 4.297 percent.
Although the one-year T-bill was oversubscribed, the auction committee only accepted PHP3.966 billion of the PHP8.786 total bids.
“With this decision, the committee was able to raise PHP12.97 billion of the PHP15-billion program,” the BTr said. (PNA)
