MANILA, Philippines — Investors continued to snap up government securities, allowing the Bureau of the Treasury to sell all P30 billion in reissued three-year T-bonds it offered on Tuesday.
In a statement, the Treasury said the IOUs with a remaining life of two years and 10 months were fully awarded at an annual rate of 2.558 percent, below secondary market and previous auction rates.
These treasury bonds maturing on April 21, 2023, attracted P124.2 billion in bids, making the auction over four times oversubscribed.
National Treasurer Rosalia V. de Leon said the market was not only flushed with liquidity but also earning “real positive rates given benign inflation.”
This T-bond series’ outstanding volume to date amounted to P161.7 billion.
De Leon said the Treasury will offer another P20 billion of these bonds through its tap facility window.
Last Monday, the Treasury sold an additional P10 billion in 364-day T-bills via tap to the 11 government securities eligible dealers (GSEDs)-market makers.
Tenders for Monday’s tap offer reached P11.6 billion.
Meanwhile, De Leon reminded holders of the “premyo bonds” sold last December that the two quarterly raffle draws earlier postponed due to the COVID-19 lockdown will proceed on June 18.
De Leon said the top winners for both quarterly raffles will get P1 million and a house-and-lot each.
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.
For feedback, complaints, or inquiries, contact us.