PH Treasury rejects all bids for 91-day T-bills

Reuters

Posted at May 28 2012 03:09 PM | Updated as of May 28 2012 11:09 PM

MANILA - The Philippines' Bureau of Treasury rejected all bids submitted by banks at an auction of 91-day T-bills on Monday and withdrew its offer of 2 billion pesos ($46 million) worth of the short-term paper.

But it awarded 2.0 billion pesos worth of 182-day T-bills and 3.5 billion pesos worth of 364-day T-bills at the same auction.

The Treasury had also rejected all bids for 91-day paper at its last regular auction on May 14.

Following are the results of the Philippine Bureau of Treasury's auction of 182-day T-bills on Monday.

Tenor 182-day
Average rate 2.30 pct
Highest rate 2.30 pct
Lowest rate 2.30 pct
Previous avg rate (April 30)  2.258 pct
Offer 2.0 billion pesos
Tenders  3.33 billion pesos
Awarded  2.0 billion pesos
* The Treasury rejected all bids for 182-day notes at the May 14 auction.

Following are the results of the Philippine Bureau of Treasury's auction of 364-day T-bills on Monday.

Tenor 364-day
Average rate    2.50 pct
Highest rate 2.50 pct
Lowest rate 2.50 pct
Previous avg rate (May 14) 2.518 pct
Offer 3.50 billion pesos
Tenders  5.05 billion pesos
Awarded  3.50 billion pesos
* The Treasury rejected all bids for 182-day notes at the May 14 auction.