MANILA – Investors on Tuesday swamped the Bureau of the Treasury’s (BTr) auction for a Treasury bond (T-bond) with a remaining maturity of one year and nine months.
The bids totaled PHP109.546 billion, more than thrice the PHP30-billion offer. The debt paper was fully awarded.
The rate of the paper stood at 3.052 percent.
National Treasurer Rosalia de Leon traced the auction committee’s decision to fully award the T-bond to lower rates and investors’ appetite for tenors that are more than one-year
“Auctions have been on full awards and are able to mobilize more from tap because of low rates and over subscription,” she said.
The highest rate during the auction stood at 3.080 percent while lowest was at 2.999 percent.
Because of the huge tenders during the regular auction, the BTr also offered the same tenor through its tap facility for PHP15 billion.
The BTr made a full award for the tap facility after tenders reached PHP55.363 billion. (PNA)
