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July 19, 2024

Philippine Treasury partially awards 20-year bonds with high investor interest

The Bureau of the Treasury (BTr) opted to partially award its reissued 20-year treasury bonds, securing an average rate of 6.781 percent.

The auction for these securities, which have 14 years and seven months remaining, garnered strong demand, with total bids reaching P46.3 billion—oversubscribed by 1.5 times.

Out of the P30 billion offered, the BTr decided to raise P24 billion, as investors pursued rates significantly above secondary market levels.