National Treasurer Rosalia de Leon (File photo)
MANILA – The rate of the Philippines’ seven-year Treasury bond (T-bond) rose on Tuesday, resulting in the partial award of the debt instrument.
The average rate of the re-issued debt paper increased to 4.468 percent from 4.207 percent previously.
“(The uptick in rate was) aligned with a secondary level of 7.65 (years securities),” National Treasurer Rosalia de Leon told journalists in a Viber message.
The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion but the auction committee awarded PHP19.315 billion. Total tenders amounted to PHP57.215 billion
De Leon said even if BTr has been partially awarding debt papers recently due to rate upticks the government still has adequate funds to finance its programs and projects.
“We have built sufficient buffers taking advantage when rates were low. Improving collections and additional ODA (official development assistance) inflows will reinforce our cash position,” she added. (PNA)
