The government is eyeing to raise at least P30 billion from the first retail treasury bond (RTB) offer for 2021, the Bureau of the Treasury (BTr) announced on Friday.
The BTr said the RTBs will have three-year maturity term and will be offered from February 9 to March 4 this year, with an issue date of March 9. It will be offered at minimum denominations of P5,000, which will allow small investors to participate.
It will be the eighth retail bond offerings under the Duterte administration, with the first in September 2016; the second and third in April and November 2017, respectively; the fourth in May 2018; the fifth in February 2019; the sixth and seventh in January and July 2020, respectively.
The latest RTB amounting to P30 billion is similar to the last sale, with the government raising a record P310.8 billion — P250 billion in new money and P60.8 billion from a switch offer program. The P310.8 billion RTB had a term of five years and carried a rate of 2.625 percent.The P30 billion that the BTr aims to raise from February 9 to March 4 will be used to aid the government’s effort to contain and mitigate the effects of the coronavirus disease 2019 pandemic on the country. SOVEREIGNPH