Gov't raises P300B from 10-year T-notes

The Philippine government successfully raised P300 billion through the sale of new 10-year fixed-rate Treasury notes (FXTN).

The Bureau of the Treasury (BTr) closed the offer period early on April 24 due to overwhelming investor response, receiving P307.05 billion in bids.

The initial offer of P30 billion was upsized to P135 billion before the final amount was raised to P300 billion.

The 10-year T-bonds, maturing in 2035, were issued with a coupon rate of 6.375% and an average accepted yield of 6.286%.

Settlement and listing are scheduled for April 28, 2025, on the Philippine Dealing & Exchange Corp.

The Development Bank of the Philippines and Land Bank of the Philippines served as Joint Lead Issue Managers, with seven other corporations acting as Joint Issue Managers.