BTr raises P15B as bids stay high

The Bureau of the Treasury (BTr) raised P15 billion through its securities auction on Monday which attracted higher rates for longer-tenor debt papers following the central bank’s inflation forecast for May.

The BTr fully awarded its programmed offer of 91-day, 182-day, and 364-day papers with a value of P5 billion each.

The Treasury bills attracted a total of P44 billion in tenders or almost three times oversubscription.

The 91-day papers fetched an average rate of 5.698 percent, down from 5.719 percent recorded in last week’s auction. Tenders for these debt papers reached P19.1 billion.

The 182-day papers, however, posted a higher average rate of 5.904 percent, up from 5.886 percent seen in the previous auction. Tenders for these debt papers were lower at P11.9 billion.

Similarly, the 364-day papers fetched an average rate of 6.046 percent, slightly higher than the 6.043 percent registered in the last auction. Tenders for these debt papers amounted to P13 billion.