BTr to sell P135B in IOUs

The government will borrow from domestic sources—through the auction of treasury bills and bonds—a total of P135 billion in the second quarter, similar to the programmed volume during the first quarter.

In a March 22 memorandum, National Treasurer Roberto B. Tan said the Bureau of the Treasury would offer P20 billion in T-bills each on April 4, May 2 and June 6.

For each of the scheduled auctions in the second quarter, the offering will be composed of P8 billion worth of benchmark 91-day debt paper, P6 billion worth of 182-day IOUs, and P6 billion worth of 364-day T-bills.

As for treasury bonds, P75 billion worth will be offered between April and June.

The BTr will auction off P25  billion worth of 7-year T-bonds on April 19; P25 billion worth of 5-year debt paper on May 17, and P25 billion worth of 4-year IOUs on June 28.