Philippines awards $1.5bn worth of T-bills and cash management bills

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of cash management and Treasury bills on Monday:

BTr awards 89.6 billion Philippine pesos ($1.48 billion), just below the total offering of 90 billion pesos, of which:

BTr awards 39.6 billion pesos worth of cash management bills, below 40 billion pesos programme:

• BTr awards 20 billion pesos worth of 35-day bills at an average rate of 4.611%
• BTr awards 19.6 billion pesos worth of 63-day bills at an average rate of 4.942%
• Tenders for cash management bills total 56.21 billion pesos for cash management bills
• “They are for our liquidity management,” National Treasurer Sharon Almanza said in a message when asked about the additional tenors, adding it was not the first such issue

BTR awards 50 billion pesos worth of T-bills, within programme: 

• Tenders total 92.12 billion pesos
• BTr awards 20 billion pesos of 91-day T-bills at avg rate of 5.171% versus previous auction avg of 5.188%
• BTr awards 20 billion pesos of 182-day T-bills at avg rate of 5.694% versus previous auction avg of 5.679%
• BTr awards 10 billion pesos of 364-day T-bills at avg rate of 6.124% versus previous auction avg of 6.267%‑Reuters