Manila: The Bureau of the Treasury (BTr) successfully raised PHP35 billion through the issuance of dual-tranche Treasury bonds (T-bonds) on Tuesday. The Auction Committee fully awarded both the reissued seven-year and 25-year T-bonds during the auction.

According to Philippines News Agency, the reissued seven-year T-bond, which now has a remaining term of six years and 10 months, achieved an average interest rate of 5.798 percent. This rate is noted to be lower than both the previous auction results and the current seven-year benchmark rate. The demand for this bond was substantial, with the auction being 2.8 times oversubscribed and total tenders reaching PHP55.5 billion. Consequently, the Committee was able to raise PHP20 billion, increasing the outstanding volume for this bond series to PHP505.6 billion.

In addition, the reissued 25-year T-bond, with a remaining maturity of 24 years and three months, garnered an average rate of 6.510 percent. This bond also saw strong interest from investors, with total tenders amounting to PHP18.6 billion, surpassing the original offer by 1.2 times. The BTr raised PHP15 billion through this tranche, bringing the outstanding volume for the series to PHP105.1 billion.