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Govt plans P250-B borrowings in March

Bureau of Treasury (BTr) PHOTO BY AARON RONQUILLO

THE government plans to borrow P250 billion from local sources next month, according to the Bureau of the Treasury (BTr) figures released on Wednesday.

It will be more than the P200 billion scheduled for this month and the P160 billion set for March 2022 if the program is followed.

Treasury bills (T-bills) were eyed to bring in P75 billion, while T-bonds were targeted to bring in P175 billion.

P25 billion in T-bills will be sourced through the 91-day tenor, P25 billion through the 182-day tenor and P25 billion through the 364-day tenor.

Meanwhile, P70 billion in T-bonds will be generated through the seven-year tenor, P35 billion through the three-year tenor, P35 billion through the four-year tenor and another P35 billion through the 10-year tenor.

According to the Department of Budget and Management's Budget of Expenditures and Sources of Financing, the national government has a gross domestic borrowing program of P1.91 trillion this year. T-bills will bring in P52 billion, while fixed-rate T-bonds would bring in P1.86 trillion.

The government raised an initial P120.76 billion through the sale of its most recent retail treasury bonds issuance last week.

The sum was more than four times the announced issue size of P30 billion. On the first day of the public offer period, which closes on March 4, total offers for the bonds reached P183.44 billion.

Holders of fixed-rate Treasury notes 20-02 and 03-24 can swap their qualified bond holdings for the new bond offer through the Treasury's exchange program.

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