Big win: Manila bests target, raises ₱167.25 billion ($2.91 billion) in retail Treasury bonds

The Philippine government successfully exceeded its fundraising goals for its latest retail bond offering, collecting ₱167.25 billion ($2.91 billion) through the 32nd tranche of Retail Treasury Bonds (RTB 32). This surpasses the initial target of ₱150 billion set by National Treasurer Sharon P. Almanza. The funds raised include ₱84.86 billion ($1.48 billion) from the initial rate-setting auction on September 29 and ₱82.39 billion ($1.43 billion) from the public offering window from September 29 to October 7.

The bond offers a 2.5-year term with a 6.875% annual coupon rate, paying interest quarterly and maturing on April 12, 2029. Analysts highlight the potential inclusion of Philippine sovereign debt in global benchmark indices as a key factor driving investor interest, which could lead to increased foreign capital inflow and improved market liquidity.

Retail Treasury Bonds are a low-risk investment backed by the Philippine government, offering an attractive option for Overseas Filipino Workers (OFWs) to save and build long-term peso savings. The bond is accessible to retail investors with a minimum investment of ₱5,000, and can be purchased through participating banks or digital platforms.