BTr generates P130 billion from retail treasury bond sale

The Bureau of the Treasury (BTr) said on Monday it has generated P130 billion from selling retail treasury bonds (RTBs), more than quadruple the P30 billion it was initially selling, citing strong appetite from investors.

The bureau said the coupon rate was set at 4.625 percent, with total tenders reaching P191.8 billion for a bid-to-cover ratio of 6.39.

"This prompted the Auction Committee to expand its offering from the initial announcement of P30 billion to accommodate market appetite," the BTr said in an emailed statement.

The BTr set the offer period for the five-year bonds until November 29, but the RTBs were quickly oversubscribed.

"We have been encouraged by the response of the general investing public when we offered retail treasury bonds back in March to April," National Treasurer Rosalia de Leon said.

The BTr raised P70 billion from RTBs in March, which was also oversubscribed compared with the original offer of P30 billion.

"Investing in retail treasury bonds is a way for the public to become more aware of affordable and secure investment options that are available to them," De Leon said.

Among the banks that qualified as selling agents of the BTr were Banco de Oro Universal Bank, BDO Capital & Investment Corporation, BPI Capital Corporation, China Banking Corporation, Citibank N.A., Development Bank of the Philippines, First Metro Investment Corporation, ING Bank, Land Bank of the Philippines, Metropolitan Bank and Trust Company, Philippine Bank of Communications, Philippine National Bank, Rizal Commercial Banking Corporation, Robinsons Bank Corporation, Security Bank Corporation, and United Coconut Planters Bank. — Jon Viktor Cabuenas/VDS, GMA News