Outstanding gov’t-issued IOUs hit P3.789T in November

MANILA, Philippines–The government has sold to local and foreign investors P3.789-trillion worth of debt paper as of end-November, the latest data posted on the Bureau of the Treasury (BTr) website showed.

The outstanding IOUs issued by the national government as of the end of last month were up by almost 1 percent from end-October’s P3.755 trillion.

For the short-term Treasury bills, a total of P275.738 billion was outstanding at end-November.

Of the outstanding T-bills, P89 billion was from the auction of 91-day IOUs.

The outstanding 182-day debt paper at end-November, meanwhile, amounted P90 billion.

As for the 364-day Treasury bills, the outstanding amount reached P96.738 billion as of end-November.

The bulk or P3.513 trillion worth of the outstanding IOUs during the period were Treasury bonds, which have longer tenors.

Outstanding three-year T-Bonds hit P146.462 billion, while four-year bonds totaled P8.782 billion.

For five-year IOUs, the outstanding amount stood at P176.992 billion as of end-November.

Outstanding seven-year Treasury bonds, meanwhile, amounted to P461.028 billion.

Also outstanding long-term debt paper were P419.222 billion worth of 10-year T-Bonds, P5.315-billion 10-year AR bonds, P311.114-billion 20-year IOUs and P250.327-billion 25-year bonds.

Of the $6.582 million in Philippine Par Bond redenominated into 28.5 years, P97.05 million remains outstanding.

As of end-November, outstanding retail Treasury bonds stood at P804.881 billion, while benchmark bonds amounted P850.018 billion.

Also outstanding were P50 billion worth of 25-year CB-BoL Treasury bonds, P6.026 billion in US dollar RTB, P299.47-million euro RTB, and P22.425-billion onshore dollar T-bonds.

For the first quarter of 2015, the BTr is scheduled to auction P135 billion in Treasury bills and bonds to domestic investors.

As for offshore borrowing, the government is expected to issue up to $1 billion worth of Republic of the Philippines (ROP) bonds early next year.