The Bureau of the Treasury raised P35 billion through the sale of its newly-issued bonds at an auction on Tuesday, April 6.

The coupon rate for the five-year Treasury bonds settled at 3.375 percent.

The bureau said this rate is in line with the coupon-setting convention and below prevailing secondary market rates.

Investors submitted a total bids of P80.7 billion, more than twice the P35 billion offer.

Source: Manila Bulletin (