Philippines awards $647mn T-bill offer

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

• BTR awards 37.8 billion pesos ($647 million), more than the 27 billion pesos offered.
• Tenders total 158.2 billion pesos
• BTr awards 12.6 billion pesos of 91-day T-bills at avg rate of 4.492% versus previous auction avg of 4.579%
• BTr awards 12.6 billion pesos of 182-day T-bills at avg rate of 4.578% versus previous auction avg of 4.672%
• BTr awards 12.6 billion pesos of 364-day T-bills at avg rate of 4.615% versus previous auction avg of 4.689%‑Reuters