T-bond rate climbs

The Marcos administration has borrowed below its planned P30 billion through the sale of long-term debt securities, as the Bureau of the Treasury (BTr) rejected bids seeking higher interest rates amid continued tensions between Israel and Iran.

- By DERCO ROSAL

At the auction on Tuesday, June 17, the BTr awarded only P27.6 billion in reissued 10-year treasury bonds (T-bonds).

Tenders totaled ®55.4 billion, nearly twice the amount offered.

But this week’s demand was weaker than the 257.7 billion tendered by government securities eligible dealers (GSEDs) during last week’s auction for 7.25-year T-bonds.