The Philippine government intends to launch a new Retail Treasury Bond (RTB) offering in the second half of 2026, providing an opportunity for small investors to purchase government securities. National Treasurer Sharon Almanza indicated the issuance would be "within the second half," without specifying an exact date. These RTBs are considered low-risk investments, guaranteed by the Philippine government, and offer quarterly interest payments. Individuals can invest with a minimum of ₱5,000.
Finance Secretary Frederick Go affirmed that the government is closely monitoring market conditions to determine the optimal timing for the RTB offering. This decision will also take into account the government's financing requirements. The upcoming issuance aims to fund various projects and programs, while also broadening participation in the debt market. This year, the government plans to borrow a total of ₱2.628 trillion, with a 77:23 mix favoring domestic sources.
The last RTB offering, the 31st RTB, took place in August 2025, raising a total of ₱507.16 billion (₱425.51 billion in new money and ₱81.65 billion from a bond exchange program) with a coupon rate of 6% over five years. This offering was notable for its availability on the e-wallet platform GCash. Rizal Commercial Banking Corp. chief economist Michael Ricafort suggested that future issuances might consider lower borrowing costs from inclusion in the JPMorgan Emerging Market Bond Index and the maturity of ₱100 billion in 10-year RTBs on September 20, 2027.
