Philippines raises $266mn at T-bill auction; yields climb

MANILA: Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:

• BTr awards 13.896 billion pesos ($265.5 million) worth of T-bills, less than its 15 billion pesos offer and against total tenders of 25.914 billion pesos.

• BTr awards 4.866 billion pesos of 91-day T-bill at avg rate of 1.536% versus March 14 auction avg of 1.305%.

Philippines rejects all bids at T-bill auction as banks seek higher yields

• BTr fully awards 5 billion pesos offer of 182-day T-bill at avg rate of 1.607% versus March 14 auction avg of 1.458%.

• BTr awards 4.03 billion pesos of 364-day T-bill at avg rate of 1.792% versus March 14 auction avg of 1.734%.