The Philippine government expects to raise more than $1 billion in its second offering of retail onshore dollar bonds (RDBs)
on higher demand from investors, National Treasurer officer-in-charge Sharon Almanza said over the weekend.
Finance Secretary Benjamin Diokno said the demand was already close to a billion dollars as of Sept. 29, but the amount could still increase considering the two-week offering. The issue date was scheduled on Oct. 11, 2023, subject to the discretion of the Bureau of the Treasury.The second RDB offering has a tenor of 5.5 years and a gross interest rate of 5.750 percent per annum payable every quarter until its maturity in 2029. A total of $611.
Diokno encouraged Filipinos around the world to invest in the second RDBs to bolster financial inclusion. The RDBs’ features include the lowered minimum investment amount from $300 to just $200, and in multiples of $100 thereafter.
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