Philippine govt to launch retail treasury bonds

The Philippine government will launch retail treasury bonds on February 21 to 28.

Deputy Treasurer Eduardo Mendiola said that the debt paper has a minimum issue size of P40 billion. The settlement date is set on March 1. The RTBs will have tenors of 15 years and 20 years.

Proceeds will be used to replenish the government’s Bond Sinking Fund.  This month, some P88 billion worth of government obligations are maturing.

Mendiola said that nine banks were hired to become joint-issue managers for the RTB offering. These are Land Bank of the Philippines, Development Bank of the Philippines, Philippine National Bank, First Metro Investment Corp., Metropolitan Bank and Trust Co., BDO Capital Corp., BPI Capital, China Banking Corp. and Deutsche Bank AG.

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