The government raised P22.6 billion from the auction of Treasury bills Monday, higher than the initial offer of P20 billion.
“The auction was almost 2.6-times oversubscribed with total bids reaching P51.7 billion, prompting the Committee to double the accepted non-competitive bids for the 91-day securities to PHP5.2 billion,” the Bureau of the Treasury said.
Total tenders for the 91-day paper reached P20.09 billion, with the auction committee accepting P9.1 billion at a yield of 5.631 percent.
The BTr also sold P6.5 billion worth of 182-day debt papers out of P12.76-billion bids. The average yield for the six-month debt was 5.862 percent.
The 364-day T-bills fetched total tenders of P18.81 billion, with the BTr accepting P7 billion at a yield of 5.871 percent.
