Philippine Government Offers Treasury Bills Bond (T-bills)

The Bureau of the Treasury (BTr) will resume its regular weekly auction Monday wherein it will offer P8.5 billion worth of three-, six- and 12-month Treasury bills (T-bills).

Deputy Treasurer Eduardo Mendiola, in a memorandum posted in the BTr website, said P1 billion worth of three-month paper, P3.5 billion worth of six-month paper and P4 billion worth of one-year bill will be offered on March 7, 2011.

The government cancelled its programmed offering of treasury bond (T-bond) Tuesday last week to make way for the sale of the five- and 10-year retail treasury bonds (RTBs).

The government sold a total of P103.967 billion worth of RTBs from February 22 to March 1, 2011.

Coupon rate of the five-year bond stood at six percent, up from year-ago’s 5.87 percent while rate of the 10-year RTB went up to 7.37 percent from year-ago’s 6.62 percent.

Dealers and selling agents tapped for this offer are Allied Banking Corporation (Allied Bank), BDO Capital & Investment Corporation, BDO Universal Bank (BDO), BPI Capital Corporation, China Banking Corporation (China Bank), Deutsche Bank, First Metro Investment Corporation (FMIC), Land Bank of the Philippines (Landbank), Metropolitan Bank & Trust Company (Metrobank), Rizal Commercial Banking Corporation (RCBC), and United Coconut Planters Bank (UCPB).

Joint issue coordinators for the sale are FMIC, Landbank, Development Bank of the Philippines (DBP), BPI Capital Corporation, and Metrobank.

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