The Bureau of the Treasury has raised P255.4 billion from its sale of retail treasury bonds (RTBs) to small investors, National Treasurer Rosalia V. de Leon reported Friday.
The government’s 20th RTB sale was the biggest among the three issuances so far by the Duterte administration.
In April, the Treasury sold P181 billion in three-year RTBs—P70 billion during the rate-setting auction on top of the additional P111 billion during the public offer period—at a coupon of 4.25 percent.
In September last year, the Treasury issued P100 billion in 10-year RTBs at a 3.5-percent yield.
Settlement of the five-year RTBs issued on Nov. 20-27 will be today (Monday, Dec. 4), De Leon said.
The IOUs had a coupon of 4.625 percent.
After the rate-setting auction last Nov. 20, the Treasury said in a statement that there was “tremendous market demand” for the RTBs as tenders for the initial P30-billion offering totaled P191.8 billion.
During the auction, the Treasury accepted P130 billion in RTBs, which were later on sold in minimum denominations of P5,000 to small investors through 16 financial institutions designated as qualified selling agents.
Government borrowings have risen by more than a third year-on-year to P428.1 billion at the end of the first 10 months as more debt paper was sold locally.
The latest Treasury data showed that gross borrowings in January to October rose by 36.5 percent from P313.7 billion a year ago. End-October domestic borrowings rose to P339.1 billion from P189.8 billion last year.
Fixed-rate treasury bonds accounted for the bulk or P208.9 billion, while P30.1 billion were from the sale of treasury bills.
The Treasury in September issued P100 billion in RTBs to small investors, more than triple the minimum offering of P30 billion. It was the 18th RTB sale of the government and the first such issuance under the Duterte administration, aimed at augmenting funds for programs that form part of the 10-point socioeconomic agenda, especially infrastructure projects. —BEN O. DE VERA