The Philippines plans to issue its first-ever retail dollar bonds (RDBs) by mid-August to raise funds for COVID-19 response and tap more Filipino investors living or working overseas.
National Treasurer Rosalia de Leon told a virtual briefing on Thursday the US dollar-denominated securities would be offered in minimum denomination of only $300.
De Leon said the Bureau of the Treasury was still finalizing details of the issuance, including the bond tenor. The Treasury is also still resolving tax issues as these bonds will be settled onshore, she said.
As for the coupon, De Leon said it would be determined during the auction scheduled by the middle of next month. The yield will be…
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