Gov't fully awards reissued 7-year T-bonds amid strong demand

The government fully awarded reissued seven-year Treasury bonds on Tuesday, raising P35 billion amid strong demand.

Tenders reached P69.758 billion, nearly twice the amount offered, prompting the Bureau of the Treasury to open its tap facility and offer an additional P10 billion.

The average rate for the bond rose to 3.651%, up from 3.576% at the previous auction on July 6.