Philippines awards $502mn in T-bills

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

• BTR awards 28.4 billion pesos ($501.57 million), above 25 billion pesos programme

• Tenders total 87.5 billion pesos

• BTr awards 7 billion pesos of 91-day T-bills at avg rate of 5.526% versus previous auction avg of 5.526%

• BTr awards 11.9 billion pesos of 182-day T-bills at avg rate of 5.618% versus previous auction avg of 5.607%

• BTr awards 9.5 billion pesos of 364-day T-bills at avg rate of 5.656% versus previous auction avg of 5.651%