The Bureau of the Treasury will proceed with the regular treasury bill auction on Monday but has cancelled an earlier plan to offer 10-year treasury bond next week.
A total P30 billion worth of treasury bonds are usually offered during auctions set Tuesdays and a total P15 billion during auctions of 91-day, 182-day, and 364-day treasury bills.
The BTr said the bond auction was cancelled “in order to provide a clear market” for the public offering of the 5-year, fixed-rate retail treasury bond, which ends on Feb. 23. A bond auction set Tuesday was cancelled to make way for the price-setting for the new RTBs.
The coupon was set at 6.25 percent for the new RTB due 2029 during auction Tuesday, when a total bids of P212.72 billion were accepted. The issue size is expected to be much large with the expected subscription by retail investors and the potential exchange of 3-year and 5-year RTBs maturing in March.
