Manila: The Bureau of the Treasury (BTr) raised PHP28.4 billion from the Treasury bills (T-bills) auction on Monday, surpassing the PHP25 billion initial offer.

According to Philippines News Agency, total tenders for the 91-day T-bills reached PHP30.55 billion. The Auction Committee accepted PHP7 billion, with the yield settling at 5.526 percent.

The average yield for the 182-day tenor settled at 5.618 percent. The Auction Committee accepted PHP11.9 billion from the PHP33.69 billion total tenders, exceeding the PHP8.5 billion initial offer.

For the 364-day T-bills, the BTr raised PHP9.5 billion, with the yield settling at 5.656 percent.