Treasury seals record-breaking RTB 30 issue with Php584.86 billion raised

The Bureau of the Treasury (BTr) has successfully concluded the offer period for the 30th tranche of Retail Treasury Bonds (RTB 30), marking a milestone in the government’s fundraising efforts.

The offer, which ran from February 13 to 23, 2024, amassed a record Php 584.86 billion, significantly bolstering the state coffers for national development initiatives.

The rate-setting auction on February 13, 2024, saw an initial award of Php 212.72 billion, and over the course of the nine-day offer period, the BTr received orders amounting to an additional Php 372.14 billion.

This figure comprises Php 128.69 billion in new money and a substantial Php 243.45 billion through the Switch Program, an option allowing bondholders to exchange old bonds for new ones.

RTB 30 is set to settle on February 28, 2024, and will mature five years later on February 28, 2029.

The RTB 30 was notably accessible to a broad range of investors, with minimum investments starting at Php 5,000.

It was made available through various platforms, including the BTr Online Ordering Facility and mobile banking apps like Bonds.PH, Overseas Filipino Bank, and Landbank, indicating a push towards digital inclusivity in government securities.

Proceeds from RTB 30 will provide crucial funding for the Republic’s developmental agenda in sectors such as agriculture, infrastructure, education, and healthcare, addressing some of the most pressing needs of the country.

The issuance was managed by Development Bank of the Philippines and Land Bank of the Philippines as Joint Lead Issue Managers. They were supported by a consortium of Joint Issue Managers including major financial institutions like BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, First Metro Investment Corporation, PNB Capital and Investment Corporation, and Union Bank of the Philippines.