Philippines awards $425mn 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 23.95 billion pesos ($425.52 million), below the 25 billion pesos on offer

• Tenders total 57.74 billion pesos

• BTr awards 6.95 billion pesos of 91-day T-bills at avg rate of 5.526% versus previous auction avg of 5.530%

• BTr awards 8 billion pesos of 180-day T-bills at avg rate of 5.607% versus previous auction avg of 5.557%

• BTr awards 9 billion pesos of 364-day T-bills at avg rate of 5.651% versus previous auction avg of 5.655%