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THE Bureau of Treasury said it will sell retail Treasury bonds (RTBs),
which are IOUs meant to be sold to small investors at the end of the
month.
National Treasurer Roberto B. Tan said the
government decided on the size of the issue, adding it can be
flexible on the amount with tenors of three- and five years. Yields
will base on market rates, he said.
Unlike regular T-bonds, RTBs cater to small
investors because they can buy the investment instrument for as
little as P5,000.
“This is an instrument particularly to provide
investment options to small savers,” Tan told reporters.
The government appointed BPI Capital Corp.,
Development Bank of the Philippines and First Metro Investments
Corp. as joint managers of the debt issue.
Last year, the government raised billions of
pesos with the auction of RTBs. The Treasury bureau accepted all
bids for the five-year IOUs while rejecting only P100 million for
the three-year debt papers.
The agency offered to sell P9.28-billion worth
of three-year RTBs despite banks’ willingness to buy as much as
P9.38 billion. It also sold P8.48-billion worth of five-year RTBs.
-- Chino S. Leyco
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