The national government on Tuesday borrowed more than three-fourths of its intended total amount of P35 billion from the sale of Treasury bonds, according to the Bureau of the Treasury (BTr).
THE national government on Tuesday borrowed more than three-fourths of its intended total amount of P35 billion from the sale of Treasury bonds, according to the Bureau of the Treasury .
The Treasury noted that the Tuesday auction was “more than twice” oversubscribed as total submitted bids hit P70.4 billion. The average yield for the awarded T-bond was at 8.012 percent, 20.2-basis points higher than the 7.810 percent secondary market benchmark rate for the debt paper with the same tenor.
Last week, the BTr fully-awarded its 35-billion worth of reissued 25-year T-bonds despite investors demanding for yield higher than secondary market rates.
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