Manila: The Bureau of the Treasury (BTr) successfully raised PHP25 billion from its Treasury bills (T-bills) auction on Monday, surpassing the initial offer of PHP22 billion. The auction saw a significant level of interest, resulting in an oversubscription that was 3.9 times higher than the original offer, with total bids reaching PHP85.4 billion.

According to Philippines News Agency, the Auction Committee decided to double the accepted non-competitive bids for the 182-day T-bills to PHP6 billion due to the robust demand. Total tenders for the 91-day T-bills amounted to PHP29.6 billion, with the committee accepting PHP7 billion. The yield for these T-bills settled at 4.858 percent.

For the 182-day T-bills, tenders reached PHP33.5 billion. The Auction Committee increased the accepted amount to PHP10.5 billion, higher than the PHP7.5 billion initially offered. The average yield for this debt paper was recorded at 5.044 percent.

Additionally, the BTr reported that total tenders for the 364-day T-bills were at PHP22.4 billion. The Auction Committee decided to accept PHP7.5 billion, with the yield for these T-bills settling at 5.093 percent.