Treasury bill, bond offerings in Nov, Dec raised to P200B | Inquirer Business
Close  

Treasury bill, bond offerings in Nov, Dec raised to P200B

/ 05:05 AM October 30, 2017

Amid strong demand for government securities, the Bureau of the Treasury increased to P200 billion the total volume of T-bills and T-bonds to be auctioned off in the fourth quarter.

From P150 billion previously, which was lower than the third quarter’s P195 billion, National Treasurer Rosalia V. de Leon said in a text message that the upward adjustment in the domestic borrowing program for November and December would allow the Treasury to “tap into the very liquid market as shown in record bid-to-cover in our past auctions.”

ADVERTISEMENT

All four treasury auctions held in October were oversubscribed, resulting in full awards involving a total of P60 billion in T-bills and T-bonds during the month.

De Leon also said there would be reduced auction schedules due to the forthcoming non-working holidays as the country would play host to the Asean Summit next month.

FEATURED STORIES

The Treasury will sell P20 billion in T-bills—P8 billion in 91-day and P6 billion each in 182- and 364-day—on Nov. 13, Nov. 27 and Dec. 11. The previous volumes were worth P15 billion—P6-billion 91-day, P5-billion 182-day and P4-billion 364-day—in each auction.

As for the upcoming T-bonds auctions in November and December, the volumes were also increased to P20 billion from P15 billion previously.

The Treasury will offer 10-year T-bonds on Nov. 7; four-year debt paper both on Nov. 21 and Dec. 19, and as seven-year IOUs on Dec. 5.

As domestic interest rates remain relatively low, the government will finance its programmed wider budget deficit equivalent to 3 percent of gross domestic product this year until 2022 through a borrowing mix of 80-percent local and 20-percent foreign.—BEN O. DE VERA

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, treasury bill
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.