MANILA – The seven-year Treasury bond (T-bond) reissuance attracted strong demand, prompting the Bureau of the Treasury (BTr) to fully award the security at Tuesday's auction.
With a remaining term of four years and seven months, the reissued T-bonds fetched an average rate of 5.508 percent, lower than both its previous reissuance and the prevailing secondary market rate.
The comparable five-year PHP Bloomberg Valuation Service yield was at 5.57 percent.
The auction was 5.8 times oversubscribed, with total tenders reaching PHP86.4 billion.
With the full award, the BTr raised the full program of PHP15 billion, bringing the total outstanding volume for the series to PHP234.7 billion. (PNA)
