Gov’t raises additional P1.1bn debt

The amount raised at the auction was 74% of the total P1.5 billion offered by the central bank to bidders at the auction, compared to 59% allotted in the April auction. Minimal movements in yields were seen in the auction, while Kgori Capital analysts reported that the nine-year and 18-year bonds as well as the six month treasury bill were over-allotted by 1.4 times, one time and 1.1 times.

Three of the five securities on offer were also over-subscribed, with the values of bids exceeding the amounts on offer, most notably in the auction for the six month treasury bill where bids amounted to P800 million against the P500 million on offer.