The Bureau of the Treasury (BTr) raised P27.6 billion from its Treasury bill auction Monday, higher than its original target of P22 billion, amid strong demand.
“The auction was 4.3x oversubscribed with total bids reaching P93.8 billion, prompting the committee to double the accepted non-competitive bids for the 91- and 182-day T-bills to P5.6 billion each,” the BTr said.
Data showed that total tenders for the 91-day debt paper amounted to PP37.86 billion, with the auction committee accepting pP9.8 billion, above the initial offer of P7 billion. Yield averaged 5.588 percent.
The BTr also sold P9.8 billion worth of 182-day T-bills out of P31.37 billion bids, with the average yield reaching 5.638 percent.
It also raised P8 billion from the sale of 364-day T-bills with an average yield of 5.891 percent.
