Government plans to issue retail treasury bonds in July

THE Arroyo government is planning to revive the issuance of retail treasury bonds (RTBs) to help finance infrastructure and social services projects for the year as P16-billion worth of debt instruments mature by July.

“We’re not ruling it out,” National Treasurer Roberto Tan said on Tuesday.

The government stop selling RTBs in July last year after raising enough funds to finance various projects.

It revised upward its budget deficit ceiling to P177.2 billion this year from P102 billion last year.

Small investors usually take RTBs since their minimum capital amounted to P5,000.

In July last year, the government’s RTB offering received strong demand from investors, raising a total of P9.12-billion from three and five-year bonds.

Tan said the government also plans to issue US$ 1-billion worth of global bonds in the second quarter this year to finance the liability management program of the state-owned Power Sector Assets, Liabilities, and Management Corp.(PSALM).

The Monetary Board (MB), the policy-making body of the Bangko Sentral ng Pilipinas, approved in principle PSALM’s global bond issuance during the Board’s meeting Thursday last week. PNA

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