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BTr fully awards 20-year bonds

REISSUED 20-year Treasury bonds offered on Tuesday were fully awarded as demand for the papers was strong.The auction was 3.8 times oversubscribed, having attracted P134 billion in tenders and prompting the Bureau of the Treasury to double the allocation for non-competitive bids.A total of P49 billion was raised, the bureau said in a statement, bringing the total outstanding volume for the series to P76.6 billion.With a remaining term of 19 years and 10 months, the security fetched an average rate of 6.525 percent, lower than the original coupon of 8.125 percent set during the original November 2022 issuance.The rate was also lower than the comparable secondary market benchmark, the bureau said.A day earlier, full awards were also made for 91-, 182- and 364-day Treasury bills that fetched average rates of 4.250, 4.967 and 5.448, respectively.Monday's auction was 3.1 times oversubscribed with total bids reaching P45.9 billion.The full program of P15 billion was raised, the Treasury bureau said.