Philippines awards $474mn 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 26.7 billion pesos ($473.70 million), above 25 billion pesos programme

• Tenders total 74.2 billion pesos

• BTr awards 6.5 billion pesos of 91-day T-bills at avg rate of 5.459% versus previous auction avg of 5.451%

• BTr awards 11.2 billion pesos of 182-day T-bills at avg rate of 5.523% versus previous auction avg of 5.524%

• BTr awards 9 billion pesos of 364-day T-bills at avg rate of 5.657% versus previous auction avg of 5.656%