Philippines plans up to P585 billion domestic borrowing in Q1

December 21, 2023 - 9:02 AM
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The Bureau of Treasury building in Manila, in 2014 file photo. BUSINESSWORLD

The Philippines, one of Asia’s most active issuers of sovereign debt, plans to raise as much as 585 billion pesos ($10.49 billion) from the sale of treasury bills and bonds in the first quarter, its Bureau of the Treasury (BTr) said on Wednesday.

The BTr would hold weekly auctions for 91-day, 182-day and 364-day T-bills in January to March, offering up to 15 billion pesos at each.

It would also offer 120 billion pesos of T-bonds each in January and March, and 150 billion pesos in February, BTr said in a posting on its website.

($1 = 53.5420 Philippine pesos)

($1 = 55.7650 Philippine pesos)

— Reporting by Neil Jerome Morales; Editing by Martin Petty