National Treasurer Rosalia de Leon
MANILA – The Bureau of the Treasury (BTr) has scheduled the auction of about PHP140 billion worth of debt securities next month.
In a memorandum to government securities eligible dealers (GSEDs) dated Oct. 27, National Treasurer Rosalia de Leon said PHP20 billion worth of treasury bills (T-bills) will be auctioned off each on Nov. 4, 11, 18, and 25.
The 91-day and 182-day T-bills will be offered each for PHP5 billion, and the 364-day for PHP10 billion.
The PHP30 billion worth of three-year Treasury bond (T-bond) and PHP30 billion worth of five-year T-bond will be auctioned on Nov. 5 and 19, respectively.
De Leon, in a Viber message to journalists Wednesday, said the tenors of the T-bonds that will be auctioned next month were decided upon “based on auction results with (the) intermediate part of curve as sweet spot.”
The government has set a PHP3-trillion borrowing program for this year, the bulk or about 75 percent of which will be sourced domestically.
More than half of the program has been tapped in the first half of the year.
The government tapped multilateral agencies for additional financing for this year to finance its spending on the coronavirus disease (Covid-19) to ensure a strong domestic recovery next year.
Economic managers are considering a -5.5 percent output for the Philippine economy this year due to the pandemic but it is seen to recover to between 6.5 to 7.5 percent next year.
Meanwhile, de Leon said the launch of the second Premyo bond offering is scheduled for Nov. 11.
She said they will have another mobile app for this issuance but declined to elaborate on other details.
The Premyo bond is among the government’s retail bond offerings for small investors, with the minimum placement set at PHP500.
The maximum placement is PHP10 million.
It was first launched in November 2019 through an initial offer of PHP3 billion.
The BTr awarded PHP4.961 billion worth of the said paper due to strong demand.
It conducts a quarterly draw for Premyo bond, and bondholders have the chance to win cash prices and houses and lots or condominium units. (PNA)
