Philippines awards $861mn worth of T-bill, cash management bill offers

The Philippine Bureau of the Treasury awarded 54.23 billion pesos, or $860.67 million, at its auction of cash management and Treasury bills on Monday, according to Business Recorder. That total fell short of the 55 billion peso offer. The 10 billion pesos of 35-day bills was taken up in full, averaging 5.278%.

On the Treasury bill side, 44.23 billion pesos was awarded against a 45 billion peso programme. Each of the longer bill tenors priced higher than at the previous sale. The 91-day bills averaged 5.992% against 5.845% earlier, while 182-day bills came in at 6.229% versus 6.171%.

The 364-day bills averaged 6.444% compared with 6.351% at the prior sale, and 9.23 billion pesos was awarded in that tenor. Overall tenders reached 70 billion pesos, while cash management bill tenders totalled 23.01 billion pesos. The report names no Pakistani company or sector, so its direct link to PSX-listed firms is limited.