Gov't to borrow P735 B from local debt market in Q2

The government will borrow P735 billion from the domestic debt market in the second quarter amid hopes of more favorable interest rates.

- By LOUISE MAUREEN SIMEON

In a memorandum to all government securities eligible dealers, the Bureau of the Treasury said it intends to raise a total of P735 billion from both short-term T-bills and long-term T-bonds from April to June.

Broken down, the BTr will auction off P325 billion in T-bills through the 91, 182 and 364-day tenors. It will also raise P410 billion from T-bonds with maturities of three to 25 years.

The Treasury holds the auction of short-dated T-bills every Monday and T-bonds every Tuesday.

The second quarter borrowing plan is 17-percent higher than the P629 billion program in the first quarter.