MANILA – The Philippines plans to issue at least P30 billion ($575.93 million) worth of five-year retail bonds next week, the Bureau of Treasury said on Thursday, to help fund this year’s budget and provide individuals investment opportunities.
The bonds will be sold to the public and state-run firms from Feb. 26 to March 8, the BTR said in a notice on its website. Pricing of the five-year bond will be on Feb. 26.
National Treasurer Rosalia De Leon said the bond sale would help finance this year’s 3.757 trillion pesos spending plan and also provide retail investors investment options.
Manila last issued retail bonds in June 2018, when it raised $2.3 billion.
The Philippines is raising money to finance its $180 billion “Build, Build, Build” programme which aims to lift economic growth, create jobs and attract much-needed investments.
The Philippines raised $1.5 billion in 10-year US dollar bonds in January, the first country in Asia to tap the global debt market in the new year.