The Bureau of the Treasury (BTr) is eyeing to raise P140 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 November. The programmed amount is the same as the figure set for October.
The BTr usually issues a quarterly domestic borrowing program, but it has released its planned offering on a monthly basis since April as it took into consideration recent developments, particularly the coronavirus pandemic.
In November, the 91-day, 182-day and 364-day treasury bills will be auctioned four times, 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 three-year and five-year treasury bonds in November, with a volume of P30 billion for every auction.
“(The program is) based on auction results with intermediate part of curve as sweet spot,” Rosalia de Leon, national treasurer, told reporters in a Viber group yesterday.
As the government has been able to regularly tap the domestic market for its funding requirements amid healthy demand and low rates, de Leon recently said plans to issue renminbi- and yen-denominated bonds have been shelved.
The BTr however will offer another round of premyo bonds in November, after the successful sale of its initial premyo bonds issuance.
Premyo bonds are interest-bearing securities offered by the government that have corresponding raffle numbers for a chance to win prizes.
De Leon said yesterday the second premyo bonds will be launched on November 11.
“We’ll have another mobile application to be unveiled. (The premyo bond offering) will be one of the features of the app,” she said. (A. Celis)