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PH sells P30-B retail bonds as bonus season peaks

By: - Reporter / @bendeveraINQ
/ 05:32 AM November 17, 2017

The government will sell at least P30 billion in five-year retail treasury bonds (RTBs) next week while Filipinos are still planning what to do with their year-end bonuses.

In a Nov. 16 notice of offering to government securities eligible dealers, the Bureau of the Treasury said the peso-denominated fixed-rate debt paper would be offered to the public at a minimum of P5,000 on Nov. 20-29, for issuance on Dec. 4.

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This will be the third time the Duterte administration will be borrowing from small investors.

The rate-setting auction will also be on Nov. 20. For this reason, the Treasury canceled the T-bonds auction scheduled on Nov. 21.

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“We are always on the lookout for opportunities that would allow us to fund the Philippine government’s financing requirements, taking into consideration emerging conditions in the market. RTBs have been a staple platform in the government’s financing program,” National Treasurer Rosalia V. de Leon said in a statement. She said this kind of instrument has also helped the government introduce to Filipinos the concept of savings.

Meanwhile, the Treasury on Thursday only partially awarded the 364-day T-bills it offered.

The P8-billion 91-day treasury bills and the P6-billion 182-day IOUs were both fully awarded. For the longer-tenored debt paper, the government took only P4.5 billion out of the P6-billion offered.

The 91- and 182-day T-bills fetched average rates of 2.148 percent and 2.563 percent. The 364-day rate was capped at an average of 2.952 percent.

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TAGS: bonus season peaks, P30-B retail bonds, retail treasury bonds (RTBs)
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