Philippines awards $430mn 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 25 billion Philippine pesos ($430.08 million), above 22 billion pesos programme

• Tenders total 85.4 billion pesos

• BTr awards 7 billion pesos of 91-day T-bills at avg rate of 4.858% versus previous auction avg of 4.884%

• BTr awards 10.5 billion pesos of 182-day T-bills at avg rate of 5.044% versus previous auction avg of 5.058%

• BTr awards 7.5 billion pesos of 364-day T-bills at avg rate of 5.093% versus previous auction avg of 5.097%