THE national government raised P10.55 billion from the partial award of Treasury Bills on Monday, according to the Bureau of the Treasury (BTr).
The government initially intended to raise P15 billion from the auction of its T-Bills. The BTr said the auction was nearly twice oversubscribed, attracting P29.4 billion in total tenders.
“Results were mixed in today’s treasury bill auction as the Auction Committee decided to fully award bids for the 91-day T-bill while partially awarding the 182- and 364-day T-bills,” the BTr said.
The government raised a total of P5 billion for the 91-day T-bills. For the P182-day securities, the government raised P3.25 billion while the P364-day T-bills, P2.3 billion.
The total tenders received for the 91-day T-bills amounted to P17.371 billion and rejected the P12.371 billion.
For the P182-day T-bills, the government received total tenders worth P7.11 billion and rejected a total of P3.86 billion.
For the 364-day securities, the government received P4.971 billion total tenders and rejected P2.671 billion.
The 91-day security fetched an average rate of 4.375 percent while the 182- and 364-day securities were capped at 4.921 percent and 5.142 percent, respectively.
This month alone, the national government aims to raise P215 billion from the sale of debt papers. The amount covers P75 billion worth of T-bills and P140 billion in treasury bonds.
For the whole year, the government is set to borrow a total of P2.21 trillion, of which 75 percent will be sourced locally while the remaining 25 percent will come from foreign sources.