Treasury fully awards P15B in T-bonds

The Bureau of the Treasury fully awarded the reissued T-bonds it offered Tuesday amid robust demand from investors.

All P15 billion worth of five-year treasury bonds with a remaining life of four years and six months were sold at an average rate of 4.226 percent.

In a statement, the Treasury said the yield was “within internal estimates.”

Tenders totaled P21.144 billion, making the auction oversubscribed.

The IOUs were issued on Jan. 26, 2017, and will mature on Jan. 26, 2022.

The Treasury will auction off P195 billion in T-bills and T-bonds during the third quarter, up from the P180-billion program during each of the first two quarters of 2017. /atm