Tue, 27 Sep 2022

10-year T-bond rate slips on high demand

09 Aug 2022, 20:42 GMT+10

MANILA - The rate of the re-issued 10-year Treasury bond (T-bond) fell on Tuesday as demand remained high.
The average rate of the debt paper, which has a remaining life of six years and five months, slipped to 5.791 percent from 6.760 percent.
The Bureau of the Treasury (BTr) said the rate of the debt paper is also lower than its coupon rate of 6.875 percent when it was first issued in January 2019.
It offered the debt paper for PHP35 billion and the auction committee made a full award. Total tenders reached PHP105.721 billion.
"Another well-received auction with three times bid cover and rates lower than secondary level," National Treasurer Rosalia de Leon told journalists in a Viber message.
The BTr again offered the tenor through the tap facility window for PHP10 billion amid a large volume of bids, de Leon said.
It was fully awarded during the offering.
Total bids amounted to PHP71.234 billion, BTr data showed. (PNA)

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