Strong demand for 10-year government bonds at the auction Tuesday allowed the Bureau of the Treasury to open its tap facility to borrow more funds for budgetary support.
The BTr initially offered P30 billion at the scheduled auction, attracting total bids of P102.2 billion.
The coupon was set at 6.250 percent, broadly inline with the prevailing levels of similar maturities in the secondary debt market.
This allowed the national treasury to offer P5 billion more bonds due January 2034 at the same coupon. Total bids reached P44.95 billion for the tap facility.
