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MANILA, Philippines – The government upsized its 10-year retail Treasury bond (RTB) offer, raising P100 billion instead of the P30 billion it planned, amid strong demand from investors.
The Bureau of Treasury said investors wanted to buy as much as P271.8 billion worth of RTBs, prompting it to sell more.
The bonds carry a coupon rate of 3.25%, lower than the 3.41% that bonds issued in February fetched.
The P100-billion, 2023 bond sale was part of the P150-billion programmed local borrowings of government for the third quarter of 2013.
The debt papers were sold at denominations as low as P5,000, targeting small investors.
Land Bank of the Philippines, BDO Capital & Investment Corp., BPI Capital Corp., Development Bank of the Philippines, SB Capital Investment Corp. and First Metro Investment Corp. served as issue managers. – Rappler.com
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