The government’s sale of five-year retail treasury bonds (RTBs) has posted a record-high figure even as the offer period is still ongoing, the Bureau of the Treasury (BTr) said.
Rosalia de Leon, national treasurer, told reporters in a Viber group message the amount raised has already reach a “record high,” although the exact figure was not disclosed.
In February, the BTr raised a record P310.8 billion worth of three-year RTBs, which consisted of P250 billion in new subscriptions and P60.8 billion from the bond exchange program.
“We even did (virtual investor) briefings in Caribbean today. Tomorrow, Japan, and New York City on Friday,” de Leon said Wednesday evening.
The RTBs are offered to the general investing public in minimum denominations of P5,000 from July 16 to August 7, 2020, or any earlier date as may be determined by the BTr, at an interest rate of 2.625 percent per annum.
Asked if there’s a plan to cut short the offer period anytime soon, de Leon said: “We need time for overseas Filipinos and also to get people to onboard at Bonds.PH.”
Bonds.PH is the country’s first mobile application that allows small investors to conveniently purchase RTBs and redeem these investments through electronic payment channels using their smartphones and other similar devices.
The BTr has already awarded P192.707 billion worth of RTBs during the price-setting auction last week.
The BTr said proceeds from the issuance will be used to aid the country’s efforts to mitigate the effects of the coronavirus disease 2019 and to support the sectors most affected by the pandemic.
It will also be used to fund the government’s infrastructure projects, to refinance existing debt obligations and for other national expenditures, with focus on the government’s efforts to address the current health crisis.
