BTr raises P35-B from strong dual-tranche T-bond auction

The Bureau of the Treasury (BTr) successfully raised ₱35 billion from its dual-tranche Treasury bond (T-bond) offering on Tuesday, reflecting strong investor demand for government securities.

The Auction Committee made a full award of the reissued seven-year and 25-year T-bonds.

The reissued seven-year T-bond, which has a remaining term of six years and 10 months, fetched an average rate of 5.798 percent — lower than both the previous auction rate and the prevailing seven-year benchmark. The offering was 2.8 times oversubscribed, attracting ₱55.5 billion in total tenders. The committee awarded ₱20 billion, bringing the total outstanding volume for the series to ₱505.6 billion.

Meanwhile, the reissued 25-year T-bond, with a remaining maturity of 24 years and three months, posted an average rate of 6.510 percent. The long-term debt paper was also well received, drawing ₱18.6 billion in bids or 1.2 times the initial offer. The BTr raised ₱15 billion from the tranche, increasing the total outstanding volume for the series to ₱105.1 billion.