Philippines awards $517mn of T-bills at auction

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

• BTR awards 28.6 billion pesos ($517 million), above programmed offer of 25 billion pesos

• Tenders total 84.3 billion pesos

• BTr awards 8 billion pesos of 91-day T-bills at avg rate of 5.468% versus previous auction avg of 5.515%

• BTr awards 8 billion pesos of 182-day T-bills at avg rate of 5.551% versus previous auction avg of 5.612%

• BTr awards 12.6 billion pesos of 364-day T-bills at avg rate of 5.694% versus previous auction avg of 5.702%