BTr fully awards T-bonds

Bureau of the Treasury

MANILA. Philippines – The Bureau of the Treasury (BTr) fully awarded the reissued 20-year Treasury bonds (T-bonds) on Tuesday.

With a remaining term of 19 years and six months, the reissued bond fetched an average rate of 6.095 percent, lower than the original coupon rate of 6.875 percent set on its original issuance in May 2024.

READ: Bureau of Treasury fully awards T-bills

It was, however, slightly higher than the comparable 29-year PHP Bloomberg Valuation Service yield at 6.06 percent as of Nov. 11.

Rizal Commercial Banking Corporation chief economist Michael Ricafort said this was after the comparable 20-year U.S. Treasury yield hovered among 3.5-month highs at 4.57 percent.

“The 20-year T-bond average auction yield also higher after the U.S. dollar/peso exchange rate traded at new 4.5-month highs at 58.80 levels lately that could lead to higher importation costs,” he said.

The auction was 1.8 times oversubscribed with total tenders reaching P27 billion.

With its decision, BTr raised the full program of P15 billion, bringing the total outstanding volume for the series to P142.7 billion. (PNA)