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BTr offers P30B in retail bonds, cancels auctions of T-bonds, T-bills

/ 05:00 AM February 22, 2019

The Bureau of the Treasury will offer starting Feb. 26 at least P30 billion in five-year retail bonds, the fifth RTB sale under the Duterte administration.

Interested small investors can buy the retail treasury bonds (RTBs) online from state-run lenders  Development Bank of the Philippines and Land Bank of the Philippines (Landbank) starting Tuesday.

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In a Feb. 18 memorandum to all government securities eligible dealers (GSEDs), National Treasurer Rosalia V. de Leon cancelled the scheduled T-bills and T-bonds auctions on Feb. 26 and 27, respectively, to give way to the government’s 22nd RTB issuance to date.

“The RTB sale is part of our funding program. This is also to give small investors access to government securities,” De Leon said in a text message to reporters.

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In a Feb. 21 notice of offering to GSEDs, Deputy Treasurer Erwin D. Sta. Ana said a minimum of P30 billion in RTBs due 2024 would be offered during the rate-setting auction on Feb. 26.

The debt paper will be sold in multiples of P5,000.

The offer period will be until March 8 or an earlier date to be determined by the Treasury.

The RTBs will be settled on March 12.

For this RTB sale, the Treasury will introduce a new online ordering facility through which investors can purchase between P5,000 and P500,000 in bonds.

The Treasury said the RTB Online GSEDs were the DBP and Landbank.

Investors buying online must be 18 years old and above when he or she makes the order through the websites of DBP (www.devbnkphl.com) and Landbank (www.landbank.com).

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Also, clients must have existing and active individual peso deposit (current/savings with online access) accounts with DBP and Landbank.

Accounts with joint, “in-trust-for” and “by” cannot be accommodated.

Orders as well as payments for RTBs will be accepted from 2 p.m. of Feb. 26 until 12 noon of March 8.

Interested online buyers must completely fill out the ordering facility, as orders will not proceed if certain fields would be left blank.

In June last year, the government issued P121.8 billion in three-year RTBs at 4.875 percent.

In December 2017, the Treasury raised P255.4 billion from RTBs, the largest issuance to date, selling five-year debt paper at 4.625 percent.

In April 2017, the Treasury sold P181 billion in three-year RTBs at a coupon of 4.25 percent.

In September 2016, the Treasury issued P100 billion in 10-year RTBs at a 3.5-percent yield.

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