BTr urges public to invest in RTB29

CEBU CITY, Cebu, Feb.9 (PIA) -- The Bureau of Treasury (BTr) Region 7 has urged retail investors to invest in its 29th and newest bond offering, the Retail Treasury Bonds 29 (RTB 29).

The RTB29 is an affordable, convenient, low-risk, short-term, and high-yielding investment security issued by the Philippine government.

At a press conference on Feb. 8 in Cebu, officials from the BTr promoted the latest bond issuance by the government.

According to BTr, the public can invest in RTB29 for as low as P5,000 within the ten-day investing period from Feb. 7-17.

Any eligible investor, such as individuals, cooperatives, and other institutions, can invest in RTB29.

The RTB29 has the following terms of offering:

Maturity period – 5.5 years
Maturity date - August 22, 2028
Fixed Interest rate – 6.125% per annum
Frequency of Interest Payments - Quarterly
Minimum Investment – P5,000, and in increments of P5,000 thereafter
Taxation – 20% withholding tax on interest income (not applicable for tax-exempt institutions)

BTr also announced that investors can invest in RTB29 through any of the three different modes of investment.

It can be purchased over the counter through any authorized selling agent, online via www.treasury.gov.ph, and via app-based investment channels.

BTr has partnered with major banks in the country to act as the authorized selling agents for RTB29.

The 21 selling agents for RTB29 are Asia United Bank, BDO Unibank Inc., BDO Capital and Investment Corp., BPI Capital Corp., China Banking Corp., China N.A., Development Bank of the Philippines, East West Banking Corp., First Metro Investment Corp., ING Bank NV, Land Bank of the Philippines, Maybank Philippines Inc., Metropolitan Bank and Trust Company, Philippine Bank of Communications, Philippine National Bank, Rizal Commercial Banking Corp., Robinsons Bank Corp., Security Bank Corp., Standard Chartered Bank, The Hong Kong and Shanghai Banking Corporation Ltd., Union Bank of the Philippines.

BTr also said that anyone can still invest even beyond Feb. 17 for as long as there are still available slots, while the target issue settlement date for RTB29 is set for Feb. 22.

The proceeds from RTB29 will finance the government's various priority projects nationwide focused on promoting the agriculture, education, infrastructure, and healthcare sectors. (RGC/PIA7 Cebu)

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