MANILA — The Philippines raised P121.77 billion ($2.31 billion) from the sale of 3-year retail treasury bonds that attracted strong demand, a senior government official said on Friday.
Proceeds from the retail bonds issue will become part of the national budget, National Treasurer Rosalia de Leon told Reuters.
The 2021 retail bond pays a coupon of 4.875% percent, with quarterly interest payments, making it a more attractive investment than keeping money in a bank.
The government last issued a retail treasury bond in November, raising P255.4 billion from the five-year debt.
The Philippines is raising money to finance its $180 billion “Build, Build, Build” program which aims to lift economic growth, create jobs and attract much-needed investments.
In March, the government raised $230 million from the sale of panda bonds, a debut offering that drew strong demand and followed an issue of 10-year global bonds early this year, which raised $750 million.
It also plans to raise as much as $2 billion via bond issues denominated in yen and US dollars before the year ends. — Reuters

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