Manila, April 25 -- Strong demand for the 10-year benchmark Fixed-Rate Treasury Notes (FXTNs) allowed the Bureau of the Treasury (BTr) to raise PHP300 billion a day ahead of the offer period deadline.

In a statement issued Thursday, BTr said it ended offering the debt instrument a day before April 24 after receiving a total of PHP307.05 billion within the first five days of the public offer period.

The FXTN was offered for PHP30 billion during the rate setting auction on April 15, but the award was upsized to PHP135 billion after total bids reached PHP197.3 billion.

It has a fixed coupon rate of 6.375 percent per annum, and was made available to various investor types like corporates, cooperatives, trust funds, retirement funds, provid...