BTr Successfully Raises PHP35 Billion Through Dual-Tranche Treasury Bonds
Manila: The Bureau of the Treasury (BTr) successfully raised PHP35 billion through the issuance of dual-tranche Treasury bonds (T-bonds) on Tuesday. The Auction Committee fully awarded both the reissued seven-year and 25-year T-bonds during the auction. According to Philippines News Agency, the reissued seven-year T-bond, which now has a remaining term of six years and 10 months, achieved an average interest rate of 5.798 percent. This rate is noted to be lower than both the previous auction results and the current seven-year benchmark rate. The demand for this bond was substantial, with the auction being 2.8 times oversubscribed and total