MANILA, Philippines — The Bureau of the Treasury on Tuesday sold an initial P221.22 billion in three-year retail treasury bonds (RTBs) and expects to sell more to small investors up to March 4.
The RTBs fetched a coupon rate of 2.375 percent. Prior to the pandemic early last year, the Treasury issued three-year RTBs at a higher yield of 4.375 percent.
Despite the lower coupon, National Treasurer Rosalia V. de Leon said these IOUs still had a “better yield than time deposit.”
“[RTBs are] safe and low-risk. The biggest reward is contributing to recovery and nation-building,” De Leon added.
The rate-setting auction attracted P284.18 billion in tenders from government securities …
Keep on reading: 3-year RTBs for sale at 2.375%