The Bureau of the Treasury (BTr) has fully awarded the reissued 20-year treasury bonds during yesterday’s auction as it saw a lower rate.
With a remaining term of 19 years and 11 months, the reissued security fetched an average rate of 6.189 percent.
This is lower than the 6.25 percent coupon set upon original issuance and the prevailing secondary market benchmark.
The auction was two times oversubscribed with total tenders reaching P60.9 billion.
With its decision, the committee raised the full program of P30 billion, bringing the total outstanding volume for the series to P60 billion.
Just last Monday, the BTr fully awarded bids for the auctioned treasury bills amid significant demand for the short-term IOUs.
The auction was 3.2 times oversubscribed, attracting P47.2 billion in total tenders.
The BTr raised the full program of P15 billion for the treasury bills auction.
