The Bureau of the Treasury (BTr) fully awarded fresh 10-year Treasury bonds (T-bonds) worth P35 billion in its auction on Thursday, indicating continued demand from the market.
The tenor attracted total tenders of P72.96 billion, more than double oversubscribed compared to the P35 billion offering.
The 10-year T-bonds also fetched a coupon rate of 4 percent. Their maturity date is July 22, 2031.
National Treasurer Rosalia de Leon told reporters that the tenor had “good participation” and the fetched rates were aligned with secondary levels in the market.
Earlier this month, the BTr also auctioned off the new 20-year Treasury bond, which fetched a coupon rate of 5.125 percent. This was, however, just partially awarded at P16.8 billion. The total offer was also at P3 billion.
For July, the Treasury has set to borrow P235 billion from the local debt market, up from the P215 billion programmed in the previous month.
The national government is set to borrow a total of P3.1 trillion, of which around 75 percent is expected to be raised through domestic sources.