Investors buy record P310.8 billion in RTBs

Small investors have purchased a record P310.8 billion in three-year retail treasury bonds (RTBs), significantly exceeding the government's target.

The Bureau of the Treasury shortened the offer period for the RTBs due to strong demand from the public.

The P310.8 billion raised includes P250 billion in new money and P60.8 billion from a switch offer.

These RTBs mature on April 11 and have a coupon rate of 4.375 percent.

The funds generated will support the government's priority programs and projects.

This issuance surpassed the P255.4 billion raised in 2017 and marks the sixth RTB issuance under the Duterte administration.

The Development Bank of the Philippines and Land Bank of the Philippines served as the joint lead issue managers for this sale.