Treasury raises P25-B from bond sale

The Bureau of the Treasury (BTr) successfully raised ₱25 billion from a dual-tranche issuance of Treasury bonds on Tuesday, reflecting continued investor demand for government securities despite elevated interest rates.

The Bureau of the Treasury sold reissued bonds across two tenors, including a four-year-and-two-month paper and a 10-year benchmark bond.

The reissued four-year T-bond fetched an average rate of 6.741 percent, with the Auction Committee accepting ₱20 billion out of total bids amounting to ₱27.7 billion.

For the 10-year bond, the government partially awarded ₱5 billion at an average yield of 6.857 percent, below the ₱20 billion program originally offered. Total tenders for the long-dated paper reached ₱18.1 billion.

With the combined issuance, the BTr raised the full ₱25 billion target for the auction.

The latest sale brings the outstanding volume of four-year and 10-year T-bonds to ₱426.7 billion and ₱313.2 billion, respectively, as the government continues to tap the domestic market to fund its budget requirements and development programs.