The government on Tuesday sold P15 billion worth of Treasury bonds on strong demand and ample liquidity in the financial system.
Rates for the re-issued long-term debt papers settled at 3.492 percent or 11.2 basis points higher than 3.364 percent in the previous auction.
“The auction committee decided for a full award of the re-issued Treasury Bonds on the back of strong demand for the security,” the Bureau of Treasury said in a statement after the auction.
Tenders for the government facility reached P33.98 billion, or more than double the the offer of P15 billion.
National Treasurer Rosalia De Leon said the auction results reflected the resilience of the country’s finances despite global headwinds.