THE Bureau of the Treasury (BTr) will be offering at least P30 billion worth of new 2.5-year retail treasury bonds (RTBs) due 2029 to investors beginning next week.
The peso-denominated RTB 32 issue will have a minimum aggregate nominal principal amount of P30 billion, the Treasury said late on Wednesday, although it reserved the right to increase the overall size.
The new bonds will be auctioned to government securities eligible dealers (GSEDs) on Sept. 29 while the public offer will run from Sept. 29 to Oct. 7. The Treasury can opt to close the offer earlier after reaching a subscription level it considers sufficient.
Issue and settlement is scheduled for Oct. 12.
The latest offering comes as the government manages its borrowing requirements amid elevated market yields and uncertainty over inflation and interest rates.
National Treasurer Sharon Almanza has said that the government would downsize the RTB sale compared with previous offerings, citing the availability of other financing options for the remainder of the year.
The government raised P507.16 billion from an RTB offering in 2025.
The final interest rate for RTB 32 has yet to be determined. The Treasury said the coupon would be established through a Dutch auction among GSEDs on Sept. 29.
The securities will mature on April 12, 2029, assuming the scheduled Oct. 12 issue date is followed. If the date is moved, maturity will instead be set at two and a half years from the actual issue date.
Interest will be paid quarterly in arrears on the last day of each three-month interest period.
Retail investors will be able to subscribe to the new bonds for a minimum of P5,000 and in integral multiples of P5,000, subject to the applicable requirements of the relevant selling agent.
