The Philippines plans to sell at least 30 billion pesos ($596 million) worth of three-year retail treasury bonds to provide small investors with safe investment options, the Bureau of Treasury said on Thursday.
It would be the second retail bond issue under President Rodrigo Duterte’s nine-month-old government, which in September 2016 raised as much as 100 billion pesos from such offering.
“We want more Filipinos to get into the habit of investing, and become more financially aware of how their money could work harder for them,” National Treasurer Rosalia de Leon said.
The RTBs earn a fixed interest rate based on prevailing market rates with interest coupons paid quarterly.
The treasury bureau has tapped First Metro Investment Corp and Land Bank of the Philippines as joint lead issue managers.
BDO Capital & Investment Corp, BP Capital Corp, Development Bank of the Philippines, China Bank Capital Corp and SB Capital Corp are joint issue managers.