Philippine Treasury Successfully Allocates Reissued Bonds

The Philippine Bureau of the Treasury announced a complete allocation of reissued Treasury bonds during an auction held on Tuesday. These bonds, with a remaining term of five years and five months, were auctioned at an average yield of 5.968 percent, which was slightly below the current secondary market rate. As of February 3, the equivalent yield according to the PHP Bloomberg Valuation Service stood at 5.99 percent. The auction saw strong investor interest, being oversubscribed by a factor of 3.3, with bids totaling PHP98.6 billion. This high demand led the Treasury’s committee to utilize the tap facility. Consequently, the full intended amount of PHP30 billion was raised, increasing the total outstanding amount of this bond series to PHP184.7 billion.