Manila, June 9 -- The Bureau of the Treasury (BTr) raised a total of PHP35.9 billion through the partial award of reissued Treasury bonds (T-bonds) on Tuesday.

The reissued three-year T-bond, with a remaining term of three years and four months, fetched an average rate of 7.307 percent.

The auction was 1.3 times oversubscribed, with total tenders reaching PHP37.5 billion. The Auction Committee accepted PHP27.6 billion, below the PHP30-billion program.

Meanwhile, the reissued eight-year T-bond, with a remaining term of eight years and four months, was awarded at an average rate of 7.580 percent.

The committee raised PHP8.3 billion from total bids amounting to PHP20.9 billion.

Following the partial awards, the outstanding volumes for ...