Philippines awards $678mn worth of T-bills

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

• BTr awards 40.65 billion Philippine pesos ($678 million), above the indicated 27 to 36 billion pesos programme
• Tenders total 127.3 billion pesos BTr awards 16.8 billion pesos of 91-day T-bills at avg rate of 4.542% versus previous auction avg of 4.750%
• BTr awards 16.8 billion pesos of 182-day T-bills at avg rate of 4.649% versus previous auction avg of 4.882%
• BTr awards 7.05 billion pesos of 364-day T-bills at avg rate of 5.052% versus previous auction avg of 5.168%