Gov’t IOUs reach P3.9T
The total amount of outstanding government-issued debt paper rose to P3.9 trillion at end September due to the sale of more retail treasury bonds (RTBs), the latest Bureau of the Treasury data showed.
The combined value of outstanding treasury bills and bonds at the end of the first nine months increased from P3.88 trillion in August.
Treasury bonds accounted for the bulk of outstanding government securities, with a face value totaling P3.61 trillion, up from P3.59 trillion a month ago.
Outstanding treasury bills, meanwhile, amounted to P293 million.
The Treasury awarded all P20 billion in T-bills it offered last month at rates that fell across the board.
It also sold P100 billion in 10-year RTBs at 3.5 percent, marking the first bond issuance of the Duterte administration for small local investors and 18th overall of the national government.
With the addition of the bonds maturing on Sept. 20, 2026, the amount of outstanding RTBs rose to P801.9 billion in September from P725.7 billion the previous month.
Among the outstanding T-bonds, three-year IOUs amounted P50.8 billion; five-year debt paper, P276.4 billion; seven-year treasury bonds, P564.1 billion; and 10-year T-bonds, P362.6 billion.
For 10-year agrarian reform bonds, the outstanding value is now at P6.9 billion; 20-year IOUs, P298.3 billion; and 25-year debt paper, P235.9 billion.
Of the $6.582-million Philippine Par Bond redenominated into 28.5 years, P97.1 million remained outstanding.
Also outstanding was P909.3 billion in benchmark bonds; P50 billion in 25-year CB-BoL T-bonds; and P24.2-billion onshore dollar T-bond.
As for outstanding T-bills, P89 billion was from the auction of 91-day IOUs; P92.4 billion from 182-day debt paper; and P111.7 billion from 364-day treasury bills.
For the fourth quarter, the government had programmed to borrow P135 billion through the issuance of treasury bills and bonds. The fourth-quarter domestic borrowing program will offer a similar volume as those offered during the first three quarters.
