The Bureau of the Treasury awarded the entire P30 billion it offered for three-year treasury bonds sold at the auction Tuesday.
Total tenders reached P71.4 billion, more than double the offered amount.
Bond rates averaged 6.347 percent, in line with the prevailing yield for debt papers of the same maturity.
The bonds auctioned Tuesday were originally issued as a three-year paper that will mature in January 2027.
Demand for longer-dated debt papers appears to be picking up after the Bangko Sentral ng Pilipinas indicated earlier this month that it could start cutting interest rates as early as August.
