Treasury Raises P70 Billion Through Issuance of New Retail Treasury Bonds: Targets Wider Participation Among Retail Investors

The Bureau of the Treasury (BTr) successfully raised P70.0 billion in its latest issuance of Retail Treasury Bonds (RTBs). The 19th Tranche of RTBs have a three (3)-year tenor and is available to the general investing public between March 28 and April 6, 2017 at minimum denominations of P5,000.

Strong demand for the 3-year security set the coupon at 4.25% with total tenders reaching P86.2 billion for a bid-to-cover ratio of 2.87. This prompted the Auction Committee to expand its offering from the initial announcement of P30.0 billion to accommodate market appetite.

“Now on its 19th issuance, the RTB has provided invaluable contributions and made a difference,” said National Treasurer Rosalia V. De Leon.

“For the Government, it has evolved as a staple platform in the Government’s financing program, allowing us to achieve twin objectives of inward bias to take advantage of ample domestic liquidity and reduce foreign exchange exposure. At the same time, help inculcate good money habits by providing access to an affordable and secure instrument that yields favorable returns to help achieve one’s goals,” she added.

To promote the RTB offering, the BTr will be holding a series of roadshows in key cities throughout the Philippines:

March 28, DBP Bulwagan, Makati City
March 29, Mount Malarayat Golf and Country Club, Lipa City
March 29, Marco Polo Hotel, Davao City
March 30, Baguio Country Club, Baguio City
March 30, Radisson Blu Hotel, Cebu City
March 31, Quest Hotel, Clark Freeport Zone, Pampanga
March 31, Seda Atria Hotel, Iloilo City
April 3, Mallberry Suites Business Hotel, Cagayan de Oro City
April 3, The Oriental Legazpi, Legazpi City

The BTr has tapped First Metro Investment Corporation and Land Bank of the Philippines as Joint Lead Issue Managers and BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, Development Bank of the Philippines, and SB Capital Corporation as Joint Issue Managers for this RTB offering.

The RTBs will be available throughout the offer period through any of the 17 qualified selling agents, namely: Banco de Oro Universal Bank, BDO Capital & Investment Corporation, BPI Capital Corporation, China Banking Corporation, Citibank N.A., CTBC Bank (Philippines) Corporation, Development Bank of the Philippines, First Metro Investment Corporation, ING Bank, Land Bank of the Philippines, Metropolitan Bank and Trust Company, Philippine Bank of Communications, Philippine National Bank, Rizal Commercial Banking Corporation, Security Bank Corporation, Standard Chartered Bank, and United Coconut Planters Bank.