The retail dollar bonds (RDBs) to be offered by the Bureau of the Treasury (BTr) will have a tenor of 5.5 years and will have a minimum issue size of $200 million.
This was announced by the BTr in its Notice of Offering posted on its website yesterday.
The onshore RDBs due 2029 will be auctioned on September 27.
The offer period will run until October 6, with the issue date set on October 11, 2023.
“The Republic, through the BTr, reserves the right to revise the timetable and other mechanics of the issue before the Auction date,” the BTr said.
The RDBs will be sold with a minimum denomination of $200 and multiples of $100 thereafter.
“I think initially (we’re looking at a volume of) $1 billion, but it seems like there is strong demand, so it can be upsized,” Finance Secretary Benjamin Diokno said last Friday.
In October 2021, the Philippine government raised $1.593 billion, or around P80.83 billion, through the country’s first-ever onshore RDB offering.
Financial literacy sessions were recently held with overseas Filipinos in Doha and Dubai to promote the RDBs 2. Similar sessions were also conducted for over 700 Filipinos across Europe, Japan, the United States and Canada.
The BTr is also targeting to issue the Republic’s maiden Sukuk bonds within the fourth quarter of 2023.
