The national government borrowed a full P15 billion despite higher interest rates.

At Monday's auction of Treasury bills on June 5, the national government raised a total of P15 billion as planned with demand across the board reaching P27.653 billion.

The 91-day Treasury bill rate inched up to 5.827 percent from 5.783 percent last week. It was also higher than the secondary market yield of 5.766 percent.

The Treasury sold the P5 billion worth of three-month debt papers on offer. Investors were asking for P6.589 billion of government security or IOU.

The yield on the 182-day T-bill increased to 5.891 percent from the previous 5.879 percent as investors were willing to buy P11.07 billion of the six-month IOUs. The government awarded the full P5 billion program.

The interest rate on six-month papers settled higher compared to the secondary market rate of 5.963 percent.

Lastly, the interest rate on the one-year IOU went up to 5.980 percent from 5.948 percent last week. It was also higher than the secondary’s 5.931 percent.

The one-yield debt papers attracted P9.994 billion worth of bids, and the government accepted P5 billion as planned.