The Bureau of the Treasury (BTr) fully awarded bids for its reissued seven-year Treasury bonds on Tuesday, raising PHP30 billion from the offering.
The bonds, which have a remaining term of seven years and four months, fetched an average yield of 6.081 percent—lower than the 6.143 percent rate during the last reissuance in March.
Despite the drop, Rizal Commercial Banking Corporation chief economist Michael Ricafort noted that the average yield was “slightly higher than the comparable 7-year PHP Bloomberg Valuation Service yield at 6.06 percent as of May 5, 2025, after the recent PHP300 billion 10-year local Treasury note issuance siphoned off some of the excess peso liquidity from the financial system.”
The auction attracted strong investor demand, with total tenders reaching PHP71.7 billion—2.4 times oversubscribed.
With the full award, the total outstanding volume for the bond series now stands at PHP395.6 billion.