Philippines sells P283.71 billion worth of retail treasury bonds

February 16, 2023 - 5:09 PM
1000 cash
This undated file photo shows one thousand peso bills. (The STAR/Walter Bollozos/File Photo)

The Philippine government has sold a total of 283.71 billion pesos ($5.14 billion) of retail treasury bonds as the offer period ended on Wednesday, two days ahead of the original schedule, National Treasurer Rosalia De Leon said.

Total sales from the 5.5-year T-bond issue include 31.67 billion pesos from a swap offer for bonds maturing this year, she said. The offer period began on February 7.

De Leon said the government had decided to cap the volume amid strong demand for the new issue, which has a coupon rate of 6.125% and is part of this year’s borrowing programme for budget financing.

The government’s previous peso retail bond offer had raised 420.45 billion pesos, the first such issue under the administration of President Ferdinand Marcos Jr.

($1 = 55.20 Philippine pesos)

—Reporting by Enrico Dela Cruz and Neil Jerome Morales; Editing by Kanupriya Kapoor