The Bureau of the Treasury (BTr) on Tuesday ended the offer period for the three-year retail treasury bond (RTB), three days short of the original schedule or until February 6, after receiving strong demand for the debt paper.

In an announcement posted on its website, the agency said final orders for subscription will only be until 4 p.m. during the day.

National Treasurer Rosalia de Leon told journalists they gained a total of PHP310.8 billion since the rate-setting auction for the latest RTB issuance last January 28.

Of the total, PHP250 billion is the new money component while PHP60.8 billion was submitted for the switch option, which was offered for investors of the three-year RTB maturing on April 11, 2020.

The debt paper fetched a coupon rate of 4.375 percent.

Proceeds of the RTB sale will be used to help finance the government’s general budgetary items like critical infrastructure and social services.

RTBs are intended for small investors since minimum placement is PHP5,000. (PNA)