NextGen Day

According to the Bureau of Treasury (BTr), the government intends to launch its anticipated retail dollar bond offering in the year’s third quarter.

National Treasurer Rosalia de Leon stated the government hopes to raise USD2 billion from the offering during a press conference.

The retail dollar bond offer was originally scheduled to be released by the government last year.

De Leon added, “We are looking for a more comfortable exchange rate,” noting that the peso had nearly closed at PHP56 to the US dollar on Friday.

“It’s a shifting target; we’re considering the third quarter, perhaps. We’re trying to generate more money than the USD 1.5 billion we were able to achieve previously. Let’s use $2 billion as an aspiration, added De Leon.

Through its onshore retail dollar bond offering in 2021, the government raised as much as USD1.59 billion.

“When talking to the overseas Filipino employees, we saw arrangements that needed to be made, especially for those who planned to open dollar accounts. We are going to the agent banks to request a fee waiver because it appears there are fees. We want to ensure that every preparation is taken to ensure the RDBs have a warm welcome, added De Leon.

She continued by saying that the administration was examining market conditions.

“Market conditions must be carefully considered. She stated that we must set up the charge waiver because there will be a higher volume.

“Due to our numerous available platforms, we are marketing to OFWs. We have a very significant involvement in selling agents, Bonds.Ph, and the LANDBANK mobile app, De Leon continued.

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