The Bureau of the Treasury (BTr) is scheduled to offer PHP140 billion worth of debt paper next month, wherein only short-term tenor Treasury bonds (T-bond) are up for auction.
In a memorandum to government securities eligible dealers (GSEDs) dated September 28, National Treasurer Rosalia de Leon said three- and five-year T-bonds would be offered for PHP30 billion each on October 8 and 22, respectively.
The tenor of one of the bonds for auction next month is shorter than the 10-year offered this September.
“Preference is on short to intermediate part of the curve,” de Leon told journalists in a Viber message on Tuesday.
Meanwhile, offerings for the 91-day and 182-day Treasury bills (T-bills) remain at PHP5 billion each and the 364-day paper for PHP10 billion.
T-bill auctions are scheduled on October 7, 14, 21, and 28.
The government issues debt securities as part of its fund-raising activities to finance its various programs and projects.
It is particularly aggressive in debt security issuance, given the low interest rate environment and the high liquidity situation in the country.
Source: Philippines News Agency