Manila: The Bureau of the Treasury (BTr) successfully raised PHP35 billion through a dual-tranche Treasury bonds (T-bonds) offer held on Tuesday. The auction saw a reissued three-year T-bond with a remaining term of two years and five months, attracting an average rate of 5.296 percent, which was slightly lower than the 5.324 percent recorded during the January 27 auction. The auction committee accepted PHP25 billion out of the PHP46.3-billion total tenders received.

According to Philippines News Agency, Rizal Commercial Banking Corp. chief economist Michael Ricafort noted that the average rate of the reissued T-bond decreased following the anticipated 0.25-point rate cut by the Bangko Sentral ng Pilipinas on February 19. Additionally, the reissued 25-year T-bond, with a remaining term of 23 years and 11 months, fetched an average rate of 6.577 percent, slightly higher than the 6.51 percent average rate from the previous auction on October 21, 2025. This segment of the auction was also well-received, garnering total tenders of PHP20.2 billion, double the PHP10-billion original offer.

With the full award from both tenors, the auction committee successfully raised a total of PHP35 billion. This brings the outstanding volume of the three-year and 25-year T-bonds to PHP365.6 billion and PHP115.1 billion, respectively.