Govt auction fully awards 7-yr T-bonds

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The government fully awarded the re-opened seven-year treasury bonds worth P25 billion in an auction, the Bureau of Treasury said late Tuesday.

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The average rate of the re-issued T-bonds stood at 3.45 percent, down from the previous auction’s 3.54 percent “amid ample demand for the debt security.”

The bonds have a coupon rate of 3.5 percent, due March 20, 2021.

Tenders totaled P35.302 billion, exceeding the offer size of P25 billion, the treasury bureau said.

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