Offers higher fixed quarterly interest income compared to other term deposit instruments
Retail Treasury Bonds (RTBs)
Low risk, fixed term investments issued by the Republic of the Philippines through the Bureau of the Treasury to help you invest in a better future. Invest now
Why Invest in Retail Treasury Bonds?
Affordable
Minimum investment of PHP5,000
Low-Risk Investment
Direct, unconditional and general obligations of the Republic
Relatively higher yield
Offers higher fixed quarterly interest income compared to other term deposit instruments
Convenient and accessible
Available nationwide via branches of selling agent banks
Negotiable and transferable
May be easily bought and sold via the secondary market through banks or brokers
Why Invest in Retail Treasury Bonds?
Affordable
Minimum investment of PHP5,000
Low-Risk Investment
Direct, unconditional and general obligations of the Republic
Relatively higher yield
Convenient and accessible
Available nationwide via branches of selling agent banks
Negotiable and transferable
May be easily bought and sold via the secondary market through banks or brokers
Overview
Retail Treasury Bonds or RTBs are medium to long-term debt instruments issued by the Republic of the Philippines through the Bureau of the Treasury which are primarily used to fund the Government’s projects and programs. RTBs are specifically structured to provide retail and individual investors with a safe and affordable investment outlet.
Key features of the RTBs:
- Earns fixed interest rate over the term of the bond
- Interest rate is based on prevailing market rates, determined during the auction date
- Interest is paid quarterly over the term of the bond
- Targeted at retail and individual investors
Objectives of the RTB:
- To raise funds for the Republic of the Philippines’ (“ROP” or the “Republic”) priority projects nationwide
- To demonstrate the prudence and commitment of the Republic to diversify funding sources
- To make government securities affordable and accessible to retail investors, especially individuals
- To promote financial literacy and inclusion among Filipinos
- To develop the Philippine capital market via the provision of a low-risk investment with higher yields than term deposits
- The proceeds from RTB 29 will finance the government’s various expenditures focused on:
– Promoting the agriculture, education, infrastructure, and healthcare sectors, including the enhancement of the country’s response against the pandemic; and
– Various priority projects nationwide.
For more information about Retail Treasury Bonds, visit the Bureau of the Treasury‘s website.
Terms of Offering
| Issuer | Republic of the Philippines through the Bureau of the Treasury (“BTr”) |
| Issuance | Retail Treasury Bonds with Exchange Offer |
| Eligible Investors | Individuals, Corporates, Cooperatives, Retirement Funds, Provident Funds |
| Minimum Investment | PHP 5,000; In multiples of PHP 5,000 thereafter |
| Interest Payment | Quarterly, subject to 20% final withholding tax except for tax-exempt institutions |
Note: The Issuer reserves the right to revise the timetable. You will be advised accordingly of any change in the timetable.
Exchange Offer
| ISIN | Series | Interest Rate | Maturity | Exchange Ratio |
|---|---|---|---|---|
| PIBD0523C752 | FXTN 05-75 | 5.500% | March 8, 2023 | 1.0000 |
| PIBD0723D588 | FXTN 07-58 | 3.500% | April 21, 2023 | 1.0000 |
| PIBD2023E054 | FXTN 20-05 | 11.875% | May 29, 2023 | 1.0000 |
Bondholders of the following securities (the “Eligible Bonds”) are eligible for the Exchange Offer (the “Eligible Bondholders”)