IN TBILLS, TBONDS: BTr to raise P140B


    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 the month of February. The programmed amount is the same as the figure set for January.

    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 February, the 91-day, 182-day and 364-day treasury bills will be auctioned four times, 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 three-year and 10-year treasury bonds in February, with a volume of P30 billion for every sale.

    “Same volume but longer maturities (for the treasury bonds),” Rosalia de Leon, national treasurer, told reporters in a Viber group yesterday.

    Asked why the shift to a longer tenor, de Leon said: “Very low yields and investors may have appetite for yield pick-up.”

    In January, the BTr offered five-year and seven-year bonds, with volumes of P30 billion each.