Treasury bureau accepts P66B in initial retail bond auction

The Philippine government accepted P66 billion during the initial issuance of retail treasury bonds (RTBs) this year.

The Bureau of the Treasury (BTr) accepted P66 billion with a coupon rate of 4.875 percent, Development Bank of the Philippines President Cecilia Borromeo said in an investors’ briefing in Makati City on Wednesday.

Total tenders reached P92.8 billion, more than thrice the initial amount of P30 billion as announced earlier by the government.

“The positive reception is a testament that RTBs continue to play a relevant and crucial role in developing the country,” said Borromeo.

The bonds will be offered to the general investing public for minimum denominations of P5,000 from May 30 to June 8.

“The increasing interest of Filipinos in RTBs has been particularly encouraging. We are delighted that more and more Filipinos are getting into the habit of investing as well as in taking part in the funding of the National Government,” National Treasurer Rosalia De Leon noted.

The BTr tapped Land Bank of the Philippines as lead issue manager for the offering.

BDO Capital & Investment Corp., BPI Capital Corp., Development Bank of the Philippines, Metropolitan Bank and Trust Company, and SB Capital Investment Corporation were the joint issue managers. —VDS, GMA News