National Treasurer Rosalia de Leon
MANILA – The Bureau of the Treasury’s (BTr) fresh issuance of a three-year treasury bond (T-bond) fetched a coupon rate of 2.375 percent Tuesday.
The debt paper fetched an average rate of 2.279 percent, higher than the 2.35 percent in the secondary market.
“Preference remains (a) three-year tenor bucket as seen with strong demand,” National Treasurer Rosalia de Leon said in a Viber message to journalists.
BTr offered the paper for PHP30 billion and the auction committee made a full award after tenders amounted to PHP87.963 billion.
It also offered the same paper over the tap facility for PHP15 billion to accommodate additional demand.
De Leon said demand for the three-year paper is high because it is in a “sweet spot with lower duration.” (PNA)
