Manila: The Bureau of the Treasury (BTr) successfully raised PHP35 billion from its dual-tranche Treasury bonds (T-bonds) offer conducted on Wednesday. The Auction Committee decided to fully award the reissued three-year and 25-year T-bonds as part of this offering.

According to Philippines News Agency, the reissued three-year T-bond, which has a remaining term of two years and seven months, achieved an average rate of 5.634 percent. This rate is noted to be lower than both the previous auction and the current secondary market rate. The auction for these bonds attracted significant demand, with total tenders reaching PHP93 billion, which is 9.3 times the PHP10 billion initially offered. Consequently, the committee raised PHP10 billion, increasing the outstanding volume for this series to PHP351.4 billion.

On the other hand, the 25-year T-bond, with a remaining maturity of 24 years and five months, fetched an average rate of 6.374 percent. This auction was also well-received, with total tenders amounting to PHP35.3 billion, or 1.4 times the original offer. The BTr successfully raised PHP25 billion from this tranche, bringing the outstanding volume for the series to PHP91.1 billion.