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The Bureau of the Treasury (BTr) on Tuesday fully awarded the re-issued seven-year Treasury bonds (T-bonds), according to a report by Philippine News Agency.
With a remaining term of four years and 10 months, the re-issued T-bonds fetched an average rate of 6.406 percent, which is lower than the prevailing secondary market rate.
The comparative five-year PHP Bloomberg Valuation Service rate was at 6.42 percent as of July 1.
The auction was 2.4 times oversubscribed with total tenders reaching P73.0 billion.
With its decision, the BTr raised the full program of P30 billion, bringing the total outstanding volume for the series to P159.7 billion.
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