The National Treasury has substantially reduced to P60 billion the amount of treasury bills and bonds it will offer during weekly auction scheduled December, less than a third of the volume it offered in November.
Last month, the Bureau of Treasury had scheduled weekly auctions where it expected to raise a total P225 billion from the sale of treasury bills and bonds—P15 billion in total for three-, six- and 12-month treasury bills and P20 billion every week for treasury bonds.
The National Treasury said that for December, only two weekly auctions of treasury bills and bonds will be held to raise funds for budget support. It also said the offer size will be reduced by one-third to P10 billion for treasury bills—P3 billion each for 91-day and 182-day bills and P4 billion for 364-day bills—and P20 billion each week for bonds.
The Philippines will issue Sukuk bonds next week, a maiden USD1 billion offer that opens the Islamic market for the government and the private sector. The National Treasury also introduced last month tokenized treasury bills.
