Treasury raises ₧15B from T-bills auction


THE Bureau of the Treasury fully awarded P15 billion in Treasury Bills (T-bills) on Monday.

Rates across all tenors of the security were also higher compared with those recorded from the previous auction. All the rates were lower than secondary-market benchmark rates.

The auction was more than twice oversubscribed as total bids submitted reached P33.76 billion.

National Treasurer Rosalia V. De Leon did not respond to queries following the auction.

The 91-day T-bills fetched an average rate of 1.178 percent, up by 2.8 basis points (bps) from the previous auction’s 1.15 percent. Tenders for the security amounted to P8.782 billion, exceeding the P5 billion offering.

As for the 182-day T-bills, the average rate rose by 3 bps to 1.443 percent from 1.413 percent in the last auction.  Bids submitted for the debt paper hit P10.866 billion, more than twice the P5-billion offering.

The rates for 364-day T-bills averaged 1.628 percent, inching up by 0.7 basis points from the previous auction’s 1.621 percent. The tenor attracted P14.12 billion worth of bids, nearly thrice as much as the P5-billion offering.

For this month, the Treasury is set to borrow P200 billion from the local debt market, the same amount it programmed to borrow last month.

The Treasury aims to raise P140 billion through auctioning off Treasury Bonds (T-bonds) while another P60 billion is programmed to be borrowed through Treasury Bills (T-bills).

The national government’s outstanding debt as of end-September this year ballooned to another record high of P11.92 trillion, already breaching the government’s expected level of debt stock of P11.73 trillion by the end of this year.

This was also higher by 27.2 percent or P2.55 trillion than P9.37 trillion in the same period in 2020.

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