MANILA – The Bureau of the Treasury (BTr) on Tuesday ended the offer period for the three-year retail treasury bond (RTB), three days short of the original schedule or until Feb. 6, after receiving strong demand for the debt paper.
In an announcement posted on its website, the agency said final orders for subscription will only be until 4 p.m. during the day.
National treasurer Rosalia de Leon said they gained a total of P310.8 billion since the rate-setting auction for the latest RTB issuance last Jan. 28.
Of the total, P250 billion is the new money component while P60.8 billion was submitted for the switch option, which was offered for investors of the three-year RTB maturing on Apr. 11, 2020.
The debt paper fetched a coupon rate of 4.375 percent.
The RTB sale proceeds will be used to finance the government’s general budgetary items like critical infrastructure and social services.
RTBs are intended for small investors since minimum placement is P5,000. (PNA)
