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Gov’t raises fresh P25B from T-bonds

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The national government raised P25 billion as planned from reissued 10-year Treasury bonds, but the full award again saw the cost of borrowing rise amid signals that the United States Federal Reserve may raise its policy rate in July.

Even then, the auction committee led by the Bureau of the Treasury said the resulting average rate was still lower than the coupon rate of 6.75 percent set on its first issuance in September 2022.“The auction was 1.9 times oversubscribed with total tenders reaching P48.7 billion,” the committee said in a statement.

The Bloomberg Valuation Service pegged the rate on corresponding corporate bonds at 6.186 percent or 5.7 bps lower.US bonds

Source: Loan Digest (loandigest.net)

 

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