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Philippines plans to raise at least 30b pesos from retail bond sale
[MANILA] The Philippines plans to sell at least 30 billion pesos (S$834.3 million) worth of three-year retail treasury bonds to provide small investors with safe investment options, the Bureau of Treasury said on Thursday.
It would be the second retail bond issue under President Rodrigo Duterte's nine-month-old government, which in September 2016 raised as much as 100 billion pesos from such offering. "We want more Filipinos to get into the habit of investing, and become more financially aware of how their money could work harder for them," National Treasurer Rosalia de Leon said.
Public offering runs from March 28 to April 6, with investors given an option to earn from a minimum investment of 5,000 pesos.
The RTBs earn a fixed interest rate based on prevailing market rates with interest coupons paid quarterly.