Manila: The Bureau of the Treasury (BTr) successfully raised PHP35.9 billion through the partial award of reissued Treasury bonds (T-bonds) in an auction held on Tuesday. This financial maneuver included both three-year and eight-year bonds.

According to Philippines News Agency, the reissued three-year T-bond, which has a remaining term of three years and four months, achieved an average rate of 7.307 percent. The auction was notably 1.3 times oversubscribed, with total tenders reaching PHP37.5 billion. Despite the high demand, the Auction Committee decided to accept PHP27.6 billion, slightly below the PHP30-billion target.

In parallel, the reissued eight-year T-bond, with a remaining term of eight years and four months, was awarded at an average rate of 7.580 percent. The government raised PHP8.3 billion from total bids amounting to PHP20.9 billion.

Following these partial awards, the outstanding volumes for the three-year and eight-year T-bonds have now reached PHP213 billion and PHP130 billion, respectively.