National Treasurer Rosalia de Leon (file photo)
MANILA – The rate of Treasury bills (T-bills) posted mixed results on Monday but demand remained strong, resulting in the full award for all tenors.
The average rate of the 91-day paper moved to 1.064 percent, the 182-day to 1.625 percent, and the 364-day paper to 1.625 percent.
These were at 1.053 percent, 1.401 percent, and 1.632 percent for the three-month, six-month and one-year papers during the auction last Aug. 2.
Total bids for the 91-day paper amounted to PHP17.20 billion while it reached PHP17.21 billion for the 182-day paper and PHP20.445 billion for the one-year paper.
The Bureau of the Treasury (BTr) offered all tenors for PHP5 billion each, and these were fully awarded due in part to oversubscription.
Despite the large volume of bids, National Treasurer Rosalia de Leon said they did not offer the debt paper over the tap facility window during the day.
She, however, did not elaborate on this.
Meanwhile, the government aims to issue the planned retail dollar bond (RDB) within the year although there are some adjustments because of the two-week enhanced community quarantine (ECQ) implementation in Metro Manila that started last Aug. 6.
In a virtual briefing, de Leon said they plan to issue the maiden RDB by mid-August.
However, de Leon, in a Viber message to journalists, said this will not push through anymore this month.
“(We) will adjust with ECQ. (We) also monitor market developments,” she said, adding “the plan is to do it this year.”
The RDB is initially eyed for retail investors offshore, with minimum placement of USD300, as an investment option to help Filipinos diversify their portfolio.
The BTr has conducted several virtual briefings for this planned issuance.
De Leon, in a report to Finance Secretary Carlos Dominguez III, said they have teamed up with leading domestic banks for the issuance. (PNA)
