THE government raised P66 billion—more than double the amount initially considered—from the first day of its latest retail treasury bond (RTB) offering. The three-year RTBs, priced at a coupon of 4.875 percent, can be purchased by small investors in minimum denominations of P5,000. The last three-year RTB offered in March 2017 was priced at 4.250 percent. The initial offer of P30 billion was three times oversubscribed with tenders reaching over P92 billion. The latest RTB offering is the fourth for the Duterte administration following two in 2017 and one in September 2016.

Source: Manila Times May 30, 2018 16:52 UTC