MANILA – The Bureau of the Treasury (BTr) raised P40 billion from its Treasury bills (T-bills) auction on Monday, supported by strong investor demand, the agency said.

The auction was 1.8 times oversubscribed, with total bids reaching P70.5 billion.

The BTr raised P20 billion from the 91-day T-bills, surpassing its initial P15 billion offer. The three-month tenor fetched an average rate of 5.143 percent.

For the 182-day securities, the Auction Committee increased the awarded volume to P13 billion from the original P12 billion offer. The six-month T-bills settled at an average rate of 5.624 percent.

Meanwhile, P7 billion was raised from the 364-day T-bills, which carried an average rate of 6.269 percent.