The Bureau of the Treasury raised an additional P20 billion in reissued five-year Treasury bonds (T-bonds) in its tap facility auction on Wednesday.
The auction was oversubscribed as tenders reached P30.314 billion, above the P20-billion offering.
Seeing strong demand for the tenor during the auction on Wednesday, the bureau decided to open the tap facility window to all eleven government securities dealers-market makers.
The reissued five-year debt papers had a remaining life of four years and four months and is set to mature on October 17, 2024.
It fetched an average rate of 2.676 percent during the auction also on Wednesday. The coupon rate for the tenor is 4.250 percent.
The additional P20 billion in reissued five-year T-bonds sold through the tap facility auction was on top of the P30 billion that was raised through the sale of debt papers of the same tenors on Wednesday.
On Monday, the bureau also borrowed P24 billion in 91-day, 182-day and 364-day Treasury bills and an additional P10 billion in 364-day T-bills through tap facility auction.
For this week alone, the bureau borrowed a total of P84 billion from the auction of government securities.
For next month, the Treasury is planning to borrow P170 billion from the local debt market. This is the same level as the domestic borrowing program it set this month.