The Bureau of the Treasury (BTr) is eyeing to raise P160 billion next month through the regular issuance of its treasury bills and treasury bonds.
The BTr, in a memorandum posted on its website yesterday, released the schedule of treasury bills and treasury bonds for March. The programmed amount is P20 billion higher than the P140 billion set in February, due to the additional treasury bills sale to cover five Monday auctions next month.
Thus, the 91-day, 182-day and 364-day treasury bills will be auctioned five times next month, or once a week, with volumes of P5 billion, another P5 billion and P10 billion, respectively, for a total of P20 billion every auction.
The BTr will also auction seven-year and 10-year treasury bonds in March, with a volume of P30 billion for every sale.
In February, the BTr programmed three-year and 10-year bonds, also with volumes of P30 billion each.
However, the BTr opted to cancel the three-year bond offer to provide a clear market for the public offering of the retail treasury bonds (RTB) with the same tenor.
The public offer period for the RTBs is still ongoing and will end on March 4, or until any earlier date within the offer period as determined by the BTr. The settlement date will be on March 9.
The BTr has raised an initial P221.22 billion from the RTB price-setting auction last February 9, with the government expecting to generate more during the rest of the offer period. – Angela Celis