advertisement
Filtered By: Money
Money

Treasury raises P221B from 3-year RTBs


The Bureau of the Treasury (BTr) generated an initial P221.218 billion worth of three-year retail treasury bonds (RTBs) during the rate-setting auction this week, on the back of strong demand from investors.

Data released by the BTr showed that total bids reached P284.143 billion on Tuesday, February 09, over nine times the P30-billion offer, and fetched a coupon rate of 2.375%. The bonds are set to mature on March 09, 2024.

It is made available to small investors at a minimum of P5,000, with the offer period set until March 04, with the settlement scheduled on March 09.

The latest offer is the 25th tranche of the retail treasury bonds, which seeks to raise funds for the war chest against the coronavirus disease 2019 (COVID-19).

The government has tapped Development Bank of the Philippines and the Land Bank of the Philippines as joint lead issue managers for the issuance; BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., First Metro Investment Corp., PNB Capital and Investment Corp., RCBC Capital Corp., SB Capital Investment Corp., and UnionBank of the Philippines as the joint issue managers.

The bonds may also be availed through the BTr's official website, the mobile application BONDS.PH, and the application-based Overseas Filipino Bank (OFBank).

"With the last two RTB issuances setting record subscriptions to date, we look forward to an even stronger reception for RTB-25 from the investing public," LandBank president and chief executive officer Cecilia Borromeo said in a separate statement.

"Aside from earning interest every quarter, investing in RTBs contribute to advancing the government's COVID-19 response and economic recovery plan," she added.—AOL, GMA News
 

LOADING CONTENT