Average rate of the Philippines’ 20-year Treasury bond (T-bond) fell Tuesday primarily due to strong demand for the debt paper.
Data released by the Bureau of the Treasury (BTr) showed that rate of the T-bond declined to 5.035 percent from the 5.104 percent it fetched during its initial issuance on April 16, 2017.
BTr offered it for P15 billion but tenders were more than twice at P31.078 billion. The auction committee made a full award.
Meanwhile, National Treasurer Rosalia de Leon , in a memorandum to all Government Securities Eligible Dealers (GSEDs), said it would issue a total of PHP 195 billion worth of T-bonds and Treasury bills (T-bills) in the third quarter of 2017.
The Memorandum shows that PHP 6 billion worth of 91-day, PHP-5 billion worth of 182-day and PHP4-billion worth of 364-day T-bills will be offered during the auctions scheduled on July 5 and 19, August 2, 16, and 30; and September 13 and 27.
T-bond offerings were set at Php 15 billion per auction. Specifically, five-year T-bond will be offered on July 13, 20-year on July 27, seven-year on Aug. 10, 10-year on Aug. 24, seven-year on Sept. 7, and 10-year on Sept. 21. (PNA)
