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MANILA, Philippines – The government sold P150 billion worth of 10-year retail Treasury bonds (RTBs) in a public offer that closed August 12, raising its target borrowings for the 3rd quarter.
The bond offer was 5 times more than the P30 billion that the government originally planned to raise.
“We are extremely pleased with the outcome of the RTB issuance… [It] reflects the very liquid tone of the market and the consciousness of our individual investors,” said National Treasurer Rosalia De Leon.
The Bureau of Treasury first sold P100 billion RTBs set to mature in 2023 on July 30. It raised another P50 billion in the next days, bringing the aggregate amount to P150 billion when the offer closed on August 12.
The amount already covered the government’s programmed borrowings for the 3d quarter.
De Leon however said they would still push through with scheduled Treasury bill and bond auctions for the 3rd and 4th quarters.
Land Bank of the Philippines was the lead issue manager for the transaction. Other issue managers included BDO Capital & Investment Corp., BPI Capital Corp., the Development Bank of the Philippines, First Metro Investment Corporation and SB Capital Investment Corp. – Rappler.com
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