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Manila Bulletin devider Business devider Digital platform orders for RDBs tripled this year

Digital platform orders for RDBs tripled this year

Published Oct 11, 2023 09:45 am

At A Glance

  • The Bureau of the Treasury said the total volume of retail dollar bonds raised by digital platforms has more than tripled, in line with the government's digitalization program.<br>Sharon P. Almanza, the office-in-charge of the Treasury Bureau, reported that online order-taking platforms generated a total volume of $2.56 million during the last RDB issuance, through 1,126 transactions.<br>However, the RDBs sold through online order-taking platforms accounted for only 0.2 percent of the total $1.26 billion from the offer.<br>The online order-taking platforms include the Bonds.PH Mobile Application, the LANDBANK Mobile Banking Application, and the Overseas Filipino Bank Mobile Banking Application.<br>The Treasury has issued $1.26 billion in 5.5-year RDBs with a 5.75% coupon rate, with the government assuming the final withholding tax on coupon payments.

The Bureau of the Treasury reported that digital platforms have tripled the amount of retail dollar bonds (RDBs) raised, in line with the government's digitalization program.

In a statement, Sharon P. Almanza, Treasury bureau office-in-charge, said online order-taking platforms generated $2.56 million in total volume during the last RDB issuance. 

Almanza said this amount was raised from 1,126 retail transactions.

“The total volume was more than triple of what was raised by our digital platforms during the maiden offering of the RDB in 2021,” Almanza said.

However, the RDBs sold through online order-taking platforms represented a mere 0.2 percent of the total issued amount of $1.26 billion.

The online order-taking platforms include the Bonds.PH Mobile Application, the LANDBANK Mobile Banking Application, and the Overseas Filipino Bank Mobile Banking Application.

“The BTr continues to prioritize digitalization as a means of promoting inclusive finance. Through our myriad of web- and app-based investment channels, we are able to further our thrust of enhancing retail access to government securities,” Almanza said.

Meanwhile, the Treasury has successfully issued $1.26 billion worth of 5.5-year RDBs with a coupon rate of 5.75 percent per annum. The government will assume the final withholding tax on coupon payments. 

The RDBs were officially listed on the Philippine Dealing and Exchange Board on Wednesday, Oct. 11.

Interest in the issuance remained strong throughout the auction and public offer period, resulting in an oversubscription of six times the minimum issue size of $200 million. 

As a result, the Treasury awarded $611.2 million during the rate-setting auction held on Sept. 27. An additional aggregate amount of $650.66 million was raised during the 10-day offer period.

The RDBs are designed to cater to individual investors, with a minimum investment requirement of $200.

Related Tags

retail dollar bond Sharon P. Almanza Bureau of the Treasury
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