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BTr sells ₱24-B T-bills

The national government borrowed ₱24 billion from the local market yesterday through the sale of short-dated debts.

The amount was higher than its initial offer of ₱20 billion.

The Bureau of the Treasury raised its borrowing program after yields on three-months papers fell to 2.058 percent from 2.090 percent, while six-month notes decreased to 2.114 percent from 2.193 percent and one-year IOUs dropped to 2.508 percent from 2.653 percent.

The offering was also oversubscribed with bids reaching ₱94.38 billion. Amid strong demand, the treasury also opened the tap facility window for the 364-day IOUs auctioned yesterday. (Chino S. Leyco)


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/26/btr-sells-%e2%82%b124-b-t-bills/)

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