Philippines awards $494mn 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 ($493.68 million), above 25 billion pesos programme

• Tenders total 87.3 billion pesos

• BTr awards 7 billion pesos of 91-day T-bills at avg rate of 5.318% versus previous auction avg of 5.388%

• BTr awards 11.9 billion pesos of 182-day T-bills at avg rate of 5.535% versus previous auction avg of 5.543%

• BTr awards 9.5 billion pesos of 364-day T-bills at avg rate of 5.637% versus previous auction avg of 5.627%