The Bureau of the Treasury (BTr) raised P35 billion from the dual-tranche Treasury bonds (T-bonds) offer on Wednesday.

The Auction Committee fully awarded the reissued three-year and 25-year T-bonds as part of the dual-tranche T-bond auction.

With a remaining term of two years and seven months, the reissued three-year T-bond fetched an average rate of 5.634 percent, lower than the previous auction and current secondary market rate.

The auction attracted strong demand, with total tenders reaching PHP93 billion or 9.3 times the P10 billion offer.

With its decision, the committee raised P10 billion, bringing the outstanding volume for the series to P351.4 billion.

With a remaining maturity of 24 years and five months, the 25-year T-bond, meanwhile, fetched an average rate of 6.374 percent.

The auction was also well received, with total tenders amounting to P35.3 billion, or 1.4 times the original offer.

The BTr raised P25 billion, bringing the outstanding volume for the series to P91.1 billion.

BTR PHOTO