The Bureau of the Treasury (BTr) fully awarded the 10-year Treasury bond (T-bond) on Tuesday despite a rate uptick.
The average rate of the debt paper rose to 7.344 percent from 6.703 percent previously.
“Full award seeing rates are within secondary levels for comparable maturities,” National Treasurer Rosalia de Leon told journalists in a Viber message.
The BTr offered the T-bond for PHP35 billion and tenders reached PHP58.411 billion.
It has rejected bids for government securities in the past weeks due to high-yield demand from investors.
De Leon said the rejections during the weekly auctions are countered by the successes in other government debt issuances such as the retail treasury bond (RTB) and the US dollar-denominated global bond offerings.
Source: Philippines News Agency
