Philippines sells $195mn worth of T-bills at higher yields

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

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• BTr awards total of 10.54 billion pesos ($195.40 million) worth of T-bills, less than its weekly 15 billion pesos offer and against total tenders of 22.605 billion pesos

• BTr awards 3.07 billion pesos of 91-day T-bills at avg rate of 1.759% versus previous avg of 1.572%

• BTr awards 3.62 billion pesos of 182-day T-bills at avg rate of 2.132% versus previous avg of 1.934%

• BTr awards 3.85 billion pesos of 364-day T-bills at avg rate of 2.454% versus previous avg of 2.325%