THE government raised P167.25 billion in fresh funding from the issuance of 2.5-year retail treasury bonds (RTBs) due 2029, higher than the P150-billion initial target.
The Bureau of the Treasury said P84.86 billion was raised during the rate-setting auction on Sept. 29 and another P83.39 raised during the offer period from Sept. 29 to Oct. 7.
“[T]he amount raised through the bond switch component of RTB 32 will be announced at a later date,” it added.
The coupon of the RTB 32 offering was set at 6.875 percent and the bonds will mature on April 12, 2029.
“Proceeds from the RTB 32 issuance will support the government’s budgetary requirements for various projects and programs such as education, health, infrastructure, agriculture, among others,” the Treasury said.
The RTBs, targeted at individual investors, could be bought with a minimum investment of P5,000.
Interest will be paid quarterly, subject to a 20-percent withholding tax, and the bonds can be sold before maturity.
