Philippines raises $366 mln from T-bill auction as yields drop

MANILA, April 11 (Reuters) – Following are the results of the Philippine Bureau of the Treasury’s (BTr) auction of T-bills on Monday:

* BTr accepts bids of 19 billion pesos ($365.53 million), more than its offer of 15 billion pesos and against total tenders of 71.254 billion pesos

* BTr awards 7 billion pesos of 91-day T-bill at avg rate of 1.250% versus previous avg of 1.380%

* BTr awards 7 billion pesos of 182-day T-bill at avg rate of 1.555% versus previous avg of 1.781%

* BTr awards 5 billion pesos of 364-day T-bill at avg rate of 1.857% versus previous avg of 1.883%

* Details are on the BTr’s website www.treasury.gov.ph

($1 = 51.98 Philippine pesos)

(Reporting by Enrico Dela Cruz; Editing by Kanupriya Kapoor)

((enrico.delacruz@tr.com))