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Manila Bulletin devider Business devider Gov't raises P26-B via bond sale

Gov't raises P26-B via bond sale

Published Oct 25, 2022 03:43 pm

The Bureau of the Treasury borrowed less than expected after yield on long-term debt papers rose.

The interest rate on the reissued 25-year Treasury bonds with a remaining life of 12 years and 11 months settled at 7.887 percent, above the prevailing secondary market rates of 7.233 percent to 7.368 percent.

Investors were willing to lend the government a total 47 billion, or 1.3 times more than the P35 billion programmed for borrowing. The Treasury awarded only P26 billion of reissued bonds.

National Treasurer Rosalia V. De Leon said after the auction that the bureau opted to borrow partially due to higher rates.

De Leon said investors sought for higher returns following the separate statements by the Bangko Sentral ng Pilipinas and the Department of Finance on aggressive interest rate hikes in the remaining months of the year.

To date, the Treasury bureau raised a total of P88.3 billion from this bond series.

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Bureau of the Treasury National Treasurer Rosalia V. De Leon
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