BTr awards to investors P25B in 7-year T-bonds at 3.458%

MANILA, Philippines–The Bureau of the Treasury (BTr) on Tuesday fully awarded to investors P25 billion in re-issued seven-year bonds at 3.458 percent, a rate lower than the previous auction.

The treasury bonds maturing on March 20, 2021, fetched a total of P35.302 billion in tenders during the over one-hour long auction, which the BTr said reflected “ample demand” for the debt paper.

The average rate for the treasury bonds slipped by 4.3 basis points from 3.501 percent previously.

The BTr noted that the average rate of accepted bids was also below secondary market trading levels.

Meanwhile, the latest documents on the BTr website showed that the outstanding treasury bills and bonds sold to local as well as foreign investors totaled P3.827 trillion as of end-February.

The bulk of outstanding IOUs as of last month were treasury bonds, which have a face amount totaling P3.550 trillion, while the balance of P276.6 billion were treasury bills.

Of the outstanding treasury bonds, three-year debt paper amounted P146.5 billion; four-year IOUs, P8.782 billion; five-year bonds, P177 billion; seven-year bonds, P486 billion; and 10-year bonds, P406.8 billion.

For 10-year AR bonds, the outstanding amount was P5.661 billion; P336.1 billion for 20-year debt paper; and P250.3 billion for 25-year IOUs.

Of the $6.582-million Philippine Par Bond redenominated into 28.5 years, P97.1 million remain outstanding.

Also outstanding treasury bonds were retail treasury bonds worth P804.9 billion; benchmark bonds worth P850 billion; P50 billion in 25-year CB-BoL T-bonds; P5.919 billion in US dollar RTB; P264.2 million in euro RTB; and P22 billion in onshore dollar treasury bonds.

As for the outstanding treasury bills, P81 billion came from the auction of 91-day bills; P90 billion from 182-day IOUs; and P105.6 billion from 364-day debt paper.