National Treasurer Rosalia de Leon
MANILA – The rate of the Philippines’ three-year Treasury bond (T-bond) declined Tuesday due to strong demand for the debt paper.
The average rate of the paper that has a remaining life of two years and 10 months slipped to 2.558 percent from 2.946 percent during the auction last May 12.
“Market (is) flushed with liquidity and earn(ed) real positive rates given (the) benign inflation,” National Treasurer Rosalia de Leon told journalists in a Viber message after the auction.
The Bureau of the Treasury (BTr) offered the debt securities for PHP30 billion and tenders were more than four times at PHP124.201 billion.
It offered the same tenor over the tap facility for PHP20 billion.
Meanwhile, after the postponement of the first-quarter raffle draw for the government’s first-ever Premyo Bond, de Leon said they will push through with this on June 18.
She said the raffle draw on the 18th will be for the first and second quarters.
The first raffle draw was initially scheduled for April 27, 2020 but was postponed after the enhanced community quarantine (ECQ) in Luzon was extended from the original period of March 16 until April 12 to April 30, and then to May 15.
This one-year debt paper, which has an annual interest rate of 3 percent, was launched in November 2019 to raise funds for the government’s programs on housing, education, healthcare, and social services.
The minimum investment is PHP500 and is open for individuals, cooperatives, retirement funds, and provident funds.
A quarterly draw will be held for the bondholders and prizes at stakes include as much as PHP1 million cash and a house and lot at Camella Homes in Gen. Trias, Cavite. (PNA)
