on Tuesday as the tenor’s average rate was close to the secondary market level.
The debt papers, which have a remaining life of six years and six months, were awarded at an average rate of 4.689%, up by 22.1 basis points from the 4.468% quoted when the series was last awarded on Oct. 26, 2021. Amid strong demand and with the tenor’s average rate close to the secondary market level, the BTr opened the tap facility to raise another P5 billion via the securities.
The highest rate submitted when the same bonds were offered on Jan. 4 was 5.2% compared with the 4.75% on Tuesday, she said.At the Jan. 4 auction, the Treasury rejected all bids for its P35-billion oer of the same seven-year T-bonds even as tenders reached P41.42 billion. Had it made a full award, the tenor would have fetched an average rate of 4.814%.
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