RTB-31 Raises P507.16 Billion Amid Strong Market Demand

The Bureau of the Treasury (BTr) has officially concluded the offer period for the 31st tranche of Retail Treasury Bonds (RTB 31) with a total issue size of P507.16 billion. The offer period for the 5-year issuance, with a gross coupon rate of 6% per annum, ran from August 5 to 15, 2025.

With a very strong market demand, the BTr successfully raised a total of P425.51 billion in new money, of which P210 billion was awarded during the auction held on August 5, 2025. The remaining P81.65 billion was generated through the bond exchange conducted during the first four days of the offer period. The issue and settlement date of RTB-31 is set on August 20, 2025, with maturity on August 20, 2030, five years after the issue date.

The BTr, together with the RTB-31 Joint Lead Issue Managers and Joint Issue Managers, conducted regional roadshows in Baguio, Zambales, Pampanga, Laguna, Quezon, Naga, Tacloban, Cebu, Davao, and Butuan, combining both familiar and new locations to further broaden retail participation and enhance public awareness of the issuance. In addition, online financial literacy sessions were conducted for overseas Filipino communities, local retail investors, and various institutions, including schools and cooperatives.

Similar to past RTB issuances, RTB-31 was made available for as low as PHP5,000 through traditional Over-the-Counter channels of bank branches, as well as on digital channels such as the BTr Online Ordering Facility, the Bonds.PH mobile app, the Overseas Filipino Bank mobile banking app, the LANDBANK mobile banking app, and PDAX. What made RTB-31 particularly notable was its distinction as the first ever RTB to be made available on the widely-used digital wallet platform GCash, via the GBonds function.Proceeds from the RTB-31 issuance will be used to support the government’s budgetary requirements for various projects and programs in education, health, infrastructure, agriculture, among others. 

The Development Bank of the Philippines and Land Bank of the Philippines were the Joint Lead Issue Managers, while BDO Capital & Investment Corporation, BPI Capital Corporation, China Bank Capital Corporation, First Metro Investment Corporation, PNB Capital and Investment Corporation, and Security Bank Capital Investment Corporation were the Joint Issue Managers for RTB-31.