The Bureau of the Treasury fully awarded the P30 billion it offered at the auction Tuesday for treasury bonds due January 2034.
The total bid of P95.61 billion was over three times the offered amount, pushing down the average rate below the quotes for 10-year maturities in the secondary debt market.
Average rate for the bond was set at 6.212 percent, lower than the bond’s coupon of 6.25 percent fetched when it was issued in January and the secondary market rate of 6.268 percent.
The BTr opened its tap facility to take advantage of the oversubscription and low rate, offering to government securities eligible dealers a total P20 billion awarded during the auction.
