Philippines raises $366mn from T-bill auction as yields drop

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:

• BTr accepts bids of 19 billion pesos ($365.53 million), more than its offer of 15 billion pesos and against total tenders of 71.254 billion pesos

• BTr awards 7 billion pesos of 91-day T-bill at avg rate of 1.250% versus previous avg of 1.380%

Philippines raises $266mn at T-bill auction; yields climb

• BTr awards 7 billion pesos of 182-day T-bill at avg rate of 1.555% versus previous avg of 1.781%

• BTr awards 5 billion pesos of 364-day T-bill at avg rate of 1.857% versus previous avg of 1.883%