Sale of OFW retail treasury bonds completed
The auction of the retail treasury bonds of the Philippine government has been completed and according to National Treasurer Roberto Tan, $500 million have been raise from the sale of the retail, multi-currency bond.
Tan was happy to report that they completed the total tender of $5000 million, based on the preliminary information he had received. These RTBs were sold to small investors and institutional buyers as well.
Before conducting the auction, Tan and his group composed of officials from the government and issue underwriters went to different countries and conducted “financial literacy seminars” for overseas Filipino workers (OFWs) and discussed with them the benefits of investing the said retail bonds. Tan said they were received warmly during those seminars by OFWs from the United States, Europe and some parts of Asia.
Manila scrapped Tuesday’s sale of P8.5 billion ($192 million) worth of 5-year bonds following the retail bond issue. Tan said there were no plans to cancel more Treasure debt auctions after the bond offer.
According to the preliminary reports received by Tan, the government was able to raise nearly $350 million from an auction of the foreign currency bonds on April 21. The rest were sold during the public offer which ended on Tuesday.
$200 million worth of 3-year US dollar bonds were sold at a coupon rate of 2.875% at an auction on April 21. The government also sold 5-year US dollar bonds at a coupon rate of 4.125% to raise $98 million.
Meanwhile, Manila also auctioned 5-year and 3-year Euro bonds worth $4 million Euros and 35 million Euros, respectively.
April 27, 2010
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Tags: finance, investment instruments, investments, money, OFWs, retail treasury bond, RTB В· Posted in: entrepreneurship, finance, Foreign exchange, investments, money, OFWs, Philippine business news
One Response
That’s great! i thank this treasury bonds because without this i am not a customer service representative of MCRTB now, this is my 1st work ever.. More bonds plss!! more more!!
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