Govât fully awards T-bill offering on strong demand from market
May 25, 2021 | 12:02 am
BW FILE PHOTO
THE GOVERNMENT fully awarded the Treasury bills (T-bills) it offered on Monday as demand for safe assets remained high amid ample liquidity in the market.
The Bureau of the Treasury (BTr) borrowed P25 billion as planned via the T-bills on Monday as total tenders reached P75.844 billion, making the offer over three times oversubscribed. However, this was lower than the P83.6 billion in demand seen during last weekâs offering.
Broken down, the government raised the programmed P5 billion from the 91-day debt papers as bids for the tenor reached P16.965 billion. The three-month T-bills fetched an average rate of 1.269%, down by 0.1 basis point (bp) from the 1.270% quoted last week.
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