SUMMARY
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MANILA, Philippines – The government will offer at least P30 billion worth of 10-year retail Treasury bonds (RTBs) from July 30 to August 13.
National Treasurer Rosalia de Leon said in a memorandum Wednesday, July 24 that depending on the demand for the 2023 bonds, the offer size could increase.
The bonds will be priced on July 30.
“The final interest rate will be determined through a Dutch auction to be participated in by GSEDs (government securities eligible dealers),” the Treasury said.
RTBs are ideal for individuals who want to invest in low-risk instruments. Investors can buy the debt papers for a minimum of P5,000.
The planned P30-billion RTB sale is part of the government’s P150-billion programmed local borrowings for the third quarter.
The government wants to borrow more from local sources this year based on its programmed budget gap of P241 billion.
The government sold a record P188 billion worth of 25-year RTBs in October 2012. – Rappler.com
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