The Bureau of Treasury’s Auction Committee successfully fully awarded the reissued Treasury Bond (T-bond) series FXTN 07-64 and FXTN 25-12 during the March 25 dual-tranche T-bond auction.
For FXTN 07-64, with a remaining term of 3 years and 1 month, the bond fetched an average rate of 5.779%, which was lower than both the previous auction’s rate and the current secondary market rate.
The auction garnered robust demand, with total bids amounting to P41.5 billion, more than 4 times the P10.0 billion offer. As a result, the Committee raised P10.4 billion, including subscriptions through the tap facility, increasing the outstanding volume for the series to P286.4 billion.
Meanwhile, for FXTN 25-12, which has a remaining maturity of 24 years and 10 months, the Auction Committee awarded P25.0 billion at an average rate of 6.476%. This auction was also met with strong interest, attracting total tenders of P33.8 billion, or 1.4 times the initial offer. The award brought the outstanding volume for the series to P50.0 billion.
In addition to the T-bond auction, the Auction Committee fully awarded bids for Treasury bills (T-bills) during the March 24 auction. The 91-day, 182-day, and 364-day T-bills yielded average rates of 5.157%, 5.554%, and 5.681%, respectively.
The auction was 3.1 times oversubscribed, with total bids reaching P67.2 billion. In response, the Committee decided to double the accepted non-competitive bids for the 182-day and 364-day securities, raising P5.6 billion and P7.6 billion, respectively. As a result, the Committee raised a total of P28.0 billion, surpassing the initial P22.0 billion offer.
