The Bureau of Treasury has cancelled the auction of 15-year treasury bonds scheduled on 22 April to make way for the offering of 10-year fixed rate treasury notes set for auction on Tuesday.
BTr originally was set to raise P30 billion from the sale of 15-year treasury bond, the minimum principal amount to be offered for the 10-year FXTN but will be upsized based on demand during a 10-day public offer that starts April 15, right after the auction. By cancelling next Tuesday’s bond auction, the agency said, it will “provide a clear market for the public offering” of the 10-year FXTN that ends on 24 April. FTXNs will be issued in scripless form and will be sold in minimum denominations of P10 million and integral multiples of P1 million.
The new FXTNs will be issued on 28 April.
Government Securities Dealers are allowed to submit several bids during the auction, with total bids capped at P10 billion.
