• P30-B retail T-bond auction set for Sept 6

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    Proceeds to fund Duterte infra, social projects

    The government will issue next week P30 billion worth of retail treasury bonds (RTB) to fund the Duterte Administration’s infrastructure and social services projects, the Bureau of the Treasury (BTr) said on Friday.
    The government last issued RTBs three years ago.

    “Please be advised that the Republic of the Philippines (the “Republic”) through the Bureau of the Treasury (“BTr”), will issue peso-denominated 10-year Fixed Rate Retail Treasury Bonds (the ‘Bonds’) in a minimum aggregate nominal principal amount of P30,000,000,000,” the bureau said in Friday’s advisory to investors .
    The auction date for the RTB is September 6, while the public offer will run until September 16. The issue is set for September 20.

    “The announced RTB issuance is part of government financing program for the year,” said National Treasurer Roberto Tan.

    Proceeds from the RTBs, the first jumbo bonds to be issued by the bureau under the Duterte Administration, will help finance the unprecedented infrastructure and social services buildup the government is doing to sustain and boost the economy, disperse incomes more equitably and spread prosperity to all, he added.

    “The issuance of the RTBs is also designed to encourage investment-consciousness among Filipinos especially small and individual savers, expand the retail investor base of government securities and further develop the local capital market,” Tan added.

    In the 2013 RTB issue, the minimum offer of P30 billion was oversubscribed by 906 percent. Total proceeds reached P150 billion, with a yield of 3.25 percent.

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