The national government successfully raised more than ₱500 billion from an investment option called “retail Treasury bonds (RTBs)” sold to ordinary Filipinos for a minimum of ₱5,000.
National Treasurer Rosalia De Leon said the strong demand for RTBs signaled Filipinos’ financial capability to save despite the ongoing pandemic, adding it also showed expansion of the local economy.
De Leon said the Bureau of Treasury sold a total of ₱516.3 billion during 24-day offer period for the RTBs.
Of the total amount raised, ₱488.5 billion will be used to support the national government’s dwindling budget, while the remaining ₱27.8 billion is earmarked for swap for previously issued RTBs.
“Market liquidity, great timing, and our attractive interest rates were the drivers of success for this year’s offering of RTBs,” De Leon told reporters in a mobile phone message.
The RTBs, which will mature in July 2025, fetched a coupon rate of 2.625 percent.
This latest offering is the seventh of its kind made during the Duterte administration.
The first was in September 2016; the second and third in April and November 2017, respectively; the fourth in May 2018; the fifth in February 2019; and the sixth in January 2020.