T-bond rate up on strong demand

T-bond rate up on strong demand

MANILA – The rate of seven-year treasury bond (T-bond) rose Tuesday amid a large volume of bids.

National Treasurer Rosalia de Leon said auction results signify positive turnout.

“So far so good on the long (tenor),” she told journalists after the auction. “May the force be with us.”

The average rate of the debt paper increased to 3.685 percent from 3.678 percent during the auction last May 18.

The Bureau of the Treasury (BTr) offered the debt paper for PHP35 billion, and the auction committee made a full award after total tenders reached PHP83.684 billion.

It offered the same tenor over the tap facility for PHP7 billion to address the strong demand. (PNA)

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