NG to borrow P437B locally in Q4

THE NATIONAL GOVERNMENT (NG) is looking to borrow P437 billion from the domestic market in the fourth quarter, the Bureau of the Treasury (BTr) said on Thursday.

- Aaron Michael C. Sy Reporter

In a notice on its website, the BTr said it seeks to borrow P262 billion through the issuance of Treasury bills (T-bills) and P175 billion through Treasury bonds (T-bonds) in the October-to-December period.

The borrowing plan for the fourth quarter is 36.6% lower than the P690-billion borrowing plan for the third quarter.

It is also 31.45% lower than the P637.448 billion that the government actually raised in the July-to-September period.

"Our bond auctions will be biweekly but the tenor will be dual, similar to what we've been doing for the threeand 20-year bonds," National Treasurer Sharon P. Almanza said in a Viber message.

Ms. Almanza said the breakdown of amounts per tenor for T-bills and T-bonds will be announced in the weekly notice of offering.

For October, the NG plans to borrow P180 billion domestically, consisting of P110 billion in T-bills and P70 billion in T-bonds.

The government will hold auctions for T-bills on Sept. 29, Oct. 6, Oct. 13, Oct. 20 and Oct. 27. It seeks to raise P22 billion from the sale of 91-day, 182-day and 364-day T-bills from each of these auctions in October, but no breakdown was given.

For the Sept. 29 auction, the BTr will raise P7.5 billion each from 89-day and 182-day papers, as well as P7 billion from 364-day T-bills.