The Bureau of the Treasury has cancelled the debt auctions scheduled for next week, a borrowing exercise that was planned to raise a total P30 billion for budget support.
The BTr said it already completed the borrowing program for the year with the issuance of 10-year bonds at Tuesday’s auction.
“Please be informed that the auctions of Treasury Bills and 15-Year Treasury Bond scheduled on December 11 and 12, 2023, respectively, are hereby cancelled,” the BTr said.
A total P10 billion was planned for the treasury bill auction on Monday and P20 billion for the bond auction on Tuesday.
The BTr already reduced the weekly borrowing auctions to just two for December. At Monday’s treasury bill auction, yields were allowed to rise and would have risen higher had the BTr accepted all bids.
Prior to reducing the number of weekly auctions, the government raised USD1 billion from its maiden offer of Sukuk bonds.
