Manila: The Bureau of the Treasury (BTr) successfully raised PHP40 billion from its latest Treasury bills (T-bills) auction on Monday, reflecting strong investor demand.
According to Philippines News Agency, the auction was 1.8 times oversubscribed, with total tenders reaching PHP70.5 billion. The BTr managed to raise PHP20 billion from the 91-day T-bills, surpassing the initial offer of PHP15 billion. This tenor achieved an average rate of 5.143 percent.
The Auction Committee also decided to increase the award for the 182-day T-bills to PHP13 billion from the original PHP12 billion offer. These securities concluded with an average rate of 5.624 percent. Meanwhile, PHP7 billion was raised from the sale of 364-day T-bills, which obtained an average rate of 6.269 percent.
