MANILA – Rates of the Philippines Treasury bills (T-bills) declined anew Monday in line with the path of domestic interest rates.
Average rate of the 91-day paper went down to 1.454 percent, the 182-day to 1.625 percent and the 364-day to 1.770 percent.
These were at 1.587 percent, 1.687 percent, and 1.782 percent during the auction last July 13.
The Bureau of the Treasury (BTr) offered the shortest tenor bill for PHP5,000 and made a full award. Total bids amounted to PHP23.414 billion.
The 182-day paper was offered for PHP5,000 and was also fully awarded after tenders reached PHP18.852 billion.
The auction committee also made a full award for the one-year paper at PHP10 billion after bids amounted to PHP30.201 billion.
“(We) see rates stabilizing at these low levels,” National Treasurer Rosalia de Leon told journalists in a Viber message after the auction.
De Leon said the T-bill auction does not affect the ongoing sale of five-year retail treasury bond (RTB), which is scheduled to be offered until August 7, 2020.
“These are short-term placements not affecting RTB with five-year tenor,” she said.
De Leon added “RTB sale (is) going well” but did not indicate any figure on how much investments have been placed since the rate setting auction for the paper last July 16.
The debt paper, intended for small investors since minimum placement is PHP5,000 and additional investment is on increments of PHP5,000, fetched a coupon rate of 2.625 percent.
It was offered for PHP30 billion during the rate setting auction but bids totaled to PHP278.57 billion.
The auction committee accepted PHP192.707 billion worth of tenders. (PNA)
