Govt to borrow from foreign individuals through RTBs

THE Philippines plans to borrow abroad through the sale of retail Treasury bonds (RTB) in May to finance maturing debts this year.

Industry sources said the Bureau of Treasury will float $750 million to $1-billion worth of RTB with tenors of three and five years. Unlike the regular sovereign bonds, or IOUs sold to institutional investors, the RTB is eventually sold to individual investors in smaller lots.

National Treasurer Roberto Tan confirmed the government is receiving several offers and proposals for the issuance of the debt papers.

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