Gov't out to raise P700m debt

According to a notice circulating this week, the central bank will offer the market three bonds with maturities ranging from 2023 to 2031 in an auction on May 28. The BoB conducts monthly auctions of government bonds and Treasury Bills (TBs) as part of the P30 billion domestic debt programme approved by Parliament last September. The auctions are attended exclusively by some commercial banks who bid for the bonds and TBs.

The central bank will offer the market two P200 million bonds as well as a P300 million bond, according to the notice. All the bonds are reopenings of previously floated bonds. It is expected that TBs will also be offered at the auction, although details of the maturities and amounts have not yet been provided.