Bureau of the Treasury's (BTr) Retail Dollar Bonds (RDBs) 2

Bureau of the Treasury's (Btr) Retail Dollar Bonds (RDBs) 2

9/25/2023

With a minimum investment amount of $200 USD (or PH Peso equivalent), you can start investing and manifesting your dreams!

The Republic of the Philippines, acting through the Bureau of the Treasury (BTr), will issue retail onshore dollar bonds due 2029 in the form of five and a half (5.5)-year retail onshore dollar bonds in US dollar denomination with a target minimum amount of two hundred million dollars (USD 200,000.00).

Below is the timetable of activities:

Start of Public Offer Period: September 27, 2023
End of Public Offer Period: October 6, 2023
Minimum Investment Amount: $200 Two Hundred Dollars (or PH Peso Equivalent during time of transaction) and multiples of $100 One Hundred Dollars thereafter.
Issue Date/Settlement Date: October 11, 2023 (Unless another date is announce by the Republic.)
Maturity Dates: April 11, 2029 (If the Issue Date does not occur on October 11, 2023, the Maturity Date shall be the date that is five an a half (5.5) years follow the Issue Date.)
Issue Price: At par (or 100%)
Redemption Price: At par (or 100%)
Interest Rate: The final interest rate for each tenor will be determined through a Dutch auction to be participated in by Government Securities Eligible Dealers (GSEDs).
Interest Rate Guidance: The Interest Rate shall be a fixed rate based on the prevailing five an a half (5.5) ROP rates. The Interest Rate shall be stated in three (3) decimal places.
Interest Payment Date: Interest on the RBBs, to calculated on a 30/60/360-day basis, will be paid quarterly in arrears on the last day of each three (3)-month Interest Period. The RDBs will cease to bear interest on the Maturity Date.

To ensure wider participation of individual investors in the Retail Onshore Dollar Bonds due 2029, investors may order and purchase the new subscriptions to the RDB through the following online channels:

BTr Online Ordering Facility through the BTr website and settled via electronic payment facilities of China Banking Corporation, Metrobank via First Metro Securities Brokerage Corp. and Land Bank of the Philippines;
BONDS.PH Mobile Application by the Union Bank of the Philippines;
OFB Mobile Banking Application by the Overseas Filipino Bank; and,
LBP Mobile Banking Application by the Land Bank of the Philippines.

The following are the general rules applicable to the Online Channels:

Investors can make as many transactions as they may desire, provided that a minimum amount of Two Hundred Dollars (USD200.00) and a maximum amount of the dollar equivalent of Five Hundred Thousand Pesos (Php 500,000.00), shall be accepted per transaction. Orders higher than the minimum amount shall be in multiples of One Hundred Dollars (USD100.00), thereafter.
Client/Investor must be eighteen (18) years old or above at the time the order is made.
Prior to placing an order for the subscription of the RDB, the client/investor has undergone the required Know Your-Client (KYC) procedures in accordance with existing rules and regulations.
Each investor should accept and agree with the terms and conditions of the RDB issuance, data privacy authorization, investor’s undertaking and such other document as may be prescribed by the Online Channel used.
Orders and payments for the RDB shall only be accepted during the Public Offer Period which starts on 2:00 p.m. 27 September 2023 until 4:00 p.m. 06 October 2023, unless the Online Channels implement a different cut-off period. Note that these Online Channels are subject to scheduled maintenance where orders cannot be made.
The applicable auto-debit process on the successful purchase may vary from each Online Channel (e.g. real-time or batching).
Online Channels facilitating the Peso Clear option shall inform the investor that: (i) Peso Clear Bondholders will receive the interest and principal payment proceeds in Philippine peso through their nominated settlement account; and (ii) the applicable foreign exchange rate for the particular transaction date shall apply.
Online Channels shall notify the investor of the status of the purchase through the nominated email address of the investor.
On or before the Settlement Date/Issue Date, the Sponsoring GSED shall create an NRoSS Securities Account for each new investor who has successfully purchased the RDB via an Online Channel. For an existing investor, the Sponsoring GSED should use the investor’s existing NRoSS Securities Account.
On Settlement Date/Issue Date, the Sponsoring GSED shall transfer the securities balances to the investor’s NRoSS Securities Account.
Helpdesk support is made available by the Sponsoring GSED through their customer service hotline, details of which may be viewed from the BTr’s website.