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InterAksyon.com
The online news portal of TV5
MANILA, Philippines – The government on Wednesday said it has raised P95 billion from the sale of retail Treasury bonds (RTBs) as of late Tuesday.
“We have gotten P45 billion worth of orders yesterday after the auction so that’s about P95 billion already,” Deputy Treasurer Eduardo Mendiola said. During the auction, the Treasury had raised P49.62 billion.
“I haven’t placed a cap yet. Tomorrow, I might already impose the daily limit,” Mendiola said. The RTB sale, which began on Tuesday, would run until February 29.
The fresh RTBs have maturities of 15- and 20 years, but market appetite has been robust for the latter tenor, Mendiola said. Despite this, demand for the 15-year RTB could pick up toward the end of the offer period, he said.
“While these are long tenor securities, there is a very healthy secondary market so investors don’t have to hold on to the RTBs for the entire 15 and 20 years. There are ready buyers to buy RTBs if one wants to sell,” Mendiola said.
Unlike regular Treasury bonds, RTBs can be bought for as low as P5,000 apiece, thus allowing small investors to take part in the government's fund-raising activity.
