Philippines awards $498mn 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 28.4 billion pesos ($497.73 million), above 25 billion pesos programme

• Tenders total 103.45 billion pesos

• BTr awards 7 billion pesos of 91-day T-bills at avg rate of 5.388% versus previous auction avg of 5.422%

• BTr awards 11.9 billion pesos of 182-day T-bills at avg rate of 5.543% versus previous auction avg of 5.566%

• BTr awards 9.5 billion pesos of 364-day T-bills at avg rate of 5.627% versus previous auction avg of 5.631%