Government to raise P30 billion from fixed rate T-notes
MANILA, Philippines — The government aims to borrow at least P30 billion from the local debt market via the issuance of fixed-rate Treasury notes (FXTNs) to boost state coffers.
In a notice of offering to all government securities eligible dealers (GSEDs) Tuesday evening, the Bureau of the Treasury said it would issue peso-denominated 10-year FXTNs.
FXTNs are medium to long-term investments issued by the Treasury that carry minimal risk and are originally issued with tenors of three to 25 years.
The issuance aims to raise at least P30 billion. Auction date is slated on April 15, Tuesday and will run until April 24.
However, when subscription has reached a level deemed sufficient by the Treasury, it can terminate and close the public offer period ahead of time.
Investors can invest in minimum denominations of P10 million and in increments of P1 million, similar to conventional government securities offers.
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