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The Retail Treasury Bonds (“rTBs”) are debt-instruments issued by the Republic of the Philippines, via the Bureau of Treasury, that pay periodic interest payments, with the eventual return of the Principal on maturity date. The rTBs form part of the National Government’s program to make government securities available to retail investors, especially individuals.


The 26th tranche of the rTBs will be made available to the public during the Offer Period on November 16 to 26, 2021. First Metro Investment Corporation and Metropolitan Bank & Trust Company are Selling Agents of the rTBs.


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Terms of the Offer



Republic of the Philippines through the Bureau of the Treasury

Issue Amount

Minimum of Thirty Billion Pesos (PHP30,000,000,000.00)


The Republic reserves the right to increase the overall size of the Issue.

Public Offer Period

November 16 to 26, 2021

Offer Period may be shortened at the discretion of the Issuer.

Issue Date

December 2, 2021

Minimum Investment

PHP5,000.00 and multiples thereof.

Maturity Date

June 2, 2027, or the date that is five and a half (5.5) years
following the Issue Date

Interest Rate


Interest Payment Date



Prevailing final withholding tax on coupon payment shall be for the account of the bondholders. Tax Exempt Institutions (TEIs) without a tax-exempt NRoSS Securities Account purchasing RTBs shall submit a valid BIR tax ruling.


Documentary stamp tax (DST) on original issue shall be for the account of the Issuer.


The RTB-26 constitutes direct, unconditional, unsubordinated, and general obligations of the Republic and shall at all times rank pari passu and without any preference among themselves.


The RTB-26 qualifies in the same manner as all other Treasury Notes and Bonds in respect of: (i) the liquidity floor requirement for government funds and reserves for trust duties under Bangko Sentral ng Pilipinas rules and regulations; (ii) insurance reserves under the Insurance Commission rules and regulations; and (iii) performance and
judicial bonds.


The RTB-26 shall be listed in the Philippine Dealing and Exchange Corp. (PDEx).

Bonds eligible for
exchange offer (1:1)


Series Name

Interest Rate



FXTN 10-54




FXTN 05-74




Form and Denomination of Exchange Offer

Each Exchange Offer shall be in a minimum amount of PHP5,000.00 in multiples of PHP 0.01.

First Metro's Role

Joint Issue Manager




Notice of Offering


You may view the Notice of Offering from the link below.

Download a copy of the Notice of Offering.



Contact Details 


Any questions related to the Retail Treasury Bonds may be directed to the following representatives.


Mark Joseph Cruz

Email Address: This email address is being protected from spambots. You need JavaScript enabled to view it.

Argie Garrido

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