NG eyeing ₧135B via T-bills sale

According to the Bureau of the Treasury (BTr), the national government intends to raise 135 billion pesos in a bond auction in December.

BTr reported that the government intends to raise 30 billion pesos in treasury bills (treasury bills) auctions and 105 billion pesos in treasury bills (treasury bonds) auctions next month. Note that the December target is lower than the 215 billion pesos set for this month.

BTr said the government intends to raise 10 billion pesos each from the auction of 91-day, 182-day and 364-day treasury bills. The goal is to get 15 billion pesos from these bonds during the auction day (December 7 and 14).

In terms of treasury bonds, BTr says it aims to raise 35 billion pesos in a 5-year bond auction on December 1; 35 billion pesos from the sale of 12-year bonds on December 9; and 35 billion pesos from 20-year bonds on 15 December.

This year, the government intends to borrow a total of 2.21 trillion pesos, of which 75 percent will come from local sources and the remaining 25 percent from foreign sources.

The country’s debt-to-GDP ratio fell slightly to 62.1 percent in the second quarter of the year from 63.5 percent in the first quarter. However, this remained above the internationally recommended 60 percent threshold for a healthy economy.