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Manila Bulletin devider Business devider Government borrows P585 billion from small Filipino investors

Government borrows P585 billion from small Filipino investors

Through retail treasury bonds (RTB)

Published Feb 25, 2024 08:35 pm

Small Filipino investors swarmed the government's retail treasury bond (RTB) sale, reaching another record driven by the attractive interest rate being offered.

The Bureau of the Treasury announced that the national government raised a total of P584.86 billion through the sale of five-year RTBs, marking the third issuance under the Marcos administration.

The Treasury said the 30th tranche of this investment instrument, which included a swap offer for bonds maturing on March 9 and March 12, attracted an additional P372.14 billion in orders during the nine-day offering period.

Out of that amount, P128.69 billion was raised from new investments, while P243.45 billion was obtained through the switch program.

The treasury bureau had previously raised P212.72 billion at the RTBs' rate-setting auction last Feb. 13.

“Proceeds from the RTB 30 issuance will be directed towards much needed funding support for the Republic’s various programs under the agriculture, infrastructure, education, and healthcare sectors, among others,” the treasury said in a statement.

The retail bonds come with a gross annual interest rate of 6.25 percent, which is payable quarterly until the papers reach maturity.

The new RTBs are scheduled for settlement on Feb. 28, 2024, and are slated to mature on Feb. 28, 2029.

This new issuance will be the third conducted during President Marcos’ term. The initial offering in September 2022 raised a total of P420.25 billion, followed by a subsequent offering of P283.711 billion in February of last year.

RTBs are government-issued bonds that individuals or retail investors can purchase, allowing small investors  to invest in government debt securities and earn interest.

By buying RTBs, Filipinos are essentially lending money to the government in exchange for regular interest payments and the return of the principal amount at the bond's maturity. 

These debt papers are considered a relatively safe investment option as they are backed by the government.

Investors could participate in the RTB for as low as P5,000 through traditional Over-the-Counter placements at bank branches or via digital channels such as the BTr Online Ordering Facility, Bonds.PH mobile app, Overseas Filipino Bank mobile banking app, and Landbank mobile banking app.

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