Bureau of the Treasury Raises P283.71 Billion  in 5.5-Year Retail Treasury Bonds

The Bureau of the Treasury (BTr) has concluded the offer period for the 29^th tranche of Retail Treasury Bonds (RTB 29).

The offer period for the 5.5-year issuance, with a gross coupon rate of 6.125% per annum, was set to run from February 7 to 17 but was closed two days earlier than the scheduled closing date.

The BTr raised a total of P283.71 billion through RTB 29, of which P162.18 billion was awarded at the rate-setting auction on February 7, 2023.

During the one-week offer period, an additional P121.53 billion was added, of which P89.86 billion was raised in new money and P31.67 billion through the bond exchange.

On average, orders reached P130.0 billion per day during the nine-day offer period. The RTB 29 is set to be settled on February 22, 2023 and will mature 5.5 years after the issue date which will be on August 22, 2028.

“The remarkable reception of the 29th tranche of the Retail Treasury Bonds is a testament to the robust partnership that we have forged with our retail investors, and a reaffirmation of the strides we have accomplished to develop more inclusive means to invest in our government securities. The overwhelming support that we have received has been instrumental for us to achieve our target volume ahead of schedule. This has also paid dividends for our efforts to navigate a challenging economic backdrop, and an inspiration to relentlessly pursue reforms for our domestic capital markets,” said National Treasurer Rosalia V. De Leon.

The BTr, together with the RTB 29 Issue Managers, conducted regional briefings in Batangas, Bacolod, Baguio, Cebu, Davao, Iloilo, Naga, and Pampanga to inform local investors about the offering and investment process.

In addition to this, online and face-to-face roadshows and financial literacy sessions in various countries extended the reach of RTB 29 to the Overseas Filipino community.

The RTB 29 was made available for as low as P5,000 through the traditional Over-the-Counter placement in bank branches, as well as digital channels such as the BTr Online Ordering Facility, the Bonds.PH mobile app, the Overseas Filipino Bank mobile banking app, and the Landbank mobile banking app.

The online channels received a total of P311.015 million with 2,926 transactions from 36 countries.

Proceeds from the RTB 29 issuance will help the country support various programs for economic resiliency such as those under the agriculture, infrastructure, education, and healthcare sectors.

Development Bank of the Philippines and Land Bank of the Philippines were the Joint Lead Issue Managers, while BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, First Metro Investment Corporation, PNB Capital and Investment Corporation, SB Capital Investment Corporation, and Union Bank of the Philippines were the Joint Issue Managers for the RTB 29.