Retail Treasury Bonds (RTBs) of the Philippines

By Joann Santiago

The government sold a total of P20 billion worth of 10- and 15-year retail treasury bonds (RTBs) during the price setting for this debt instrument Monday.

The 10-year bond fetched a coupon rate of 5.75 percent while the 15-year debt paper got 6.25 percent.

Tenders for the 10-year bond totaled to P22.98 billion while that of the 15-year reached P47.983 billion. The government awarded P10 billion for each tenor.

RTBs are named as such because they are intended for small investors as minimum placement is P5,000.

The government has mandated BPI Capital, First Metro Investment Corp. (FMIC), BDO Capital, Metropolitan Banking Corp. (Metrobank), and Land Bank of the Philippines (Landbank) as arrangers for the bond sale.

It has also tapped as coordinators for the RTB sale the Development Bank of the Philippines (DBP), RCBC Capital, PNB Capital, Chinabank, and Deutsche Bank AG.

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