Philippine National Treasurer Rosalia De Leon cited Singapore-based overseas Filipino workers (OFWs) as top one investors in previous Retail Treasury Bond offerings of the Bureau of the Treasury (BTr). De Leon disclosed this in the BTr virtual roadshow hosted by the Philippine Embassy and the Philippine Overseas Labor Office in Singapore on February 22, 2021. The virtual roadshow was held to offer the 25th tranche of the Retail Treasury Bonds (RTB25) to OFWs working in Singapore. RTB25 is available to investors from February 9 to March 4, 2021 with an annual interest offer of 2.375%.
Ambassador Joseph Del Mar Yap said that “with RTB25 OFW investors can earn high interest rate while at same time helping the government finance development and infrastructure projects, which are much needed during this crucial time as the country recovers from the unwanted socio-eco impact caused by the global COVID-19 pandemic”. He encouraged OFWs to continue to take advantage of the convenient digital platforms now made available by the BTr for investments through mobile applications and internet banking.
Since its maiden offering, the RTB has proven to be a very reliable funding source that helps complete the funding needs of the national government. As the government remains committed in improving the lives of Filipinos amidst this pandemic, the BTr would raise three trillion pesos in borrowings for 2021 about 85% of which will be sourced from the domestic market including the sale of RTBs, De Leon added.
RTB25 is a three-year short term bonds and available through partner banks such as DBP, LBP, BDO, BPI Capital, Chinabank Capital, First Metro, PNB Capital, RCBC Capital, SB Capital and Union Bank. RTB25 is also negotiable/tradeable in the secondary market throughout the three-year term. ###