The Bureau of the Treasury has assigned two state-owned banks to arrange the upcoming launch of a retail dollar bond (RDB) offering.

The Land Bank of the Philippines and the Development Bank of the Philippines (DBP) are tasked with leading and managing the retail bond sale targeting small investors, according to a source familiar with the transaction.

The source also said the government will proceed with the sale if there is sufficient market interest.

The Land Bank and DBP have scheduled local roadshows and online briefings to boost demand for the second retail dollar bonds, especially among overseas Filipino workers.

National Treasurer Rosalia V. De Leon said last July 7 that the marketing process for the retail dollar bonds, scheduled for this month, had commenced, with a target of raising $2 billion from the offering.

The proceeds from the RDB will be utilized to support the government's budget.

De Leon also said they reduced the minimum investment requirement from $300 to $200 for the upcoming issuance.

The Marcos administration faced delays in its initial dollar retail treasury bond sale, originally planned for December 2022, resulting in rescheduling to the second and then the third quarter.

The government attributed these deferrals to adverse market conditions.

In September 2021, the Philippines held its first retail dollar bond sale, raising nearly $1.6 billion or P80.91 billion.