The government plans to borrow about $2 billion in the last three months of 2023 from domestic and foreign investors.
According to Department of Finance (DOF) Sec. Benjamin Diokno, the government will launch a new retail dollar bond tomorrow, September 26 and plans to issue their inaugural Sukuk bonds in the last quarter.
According to Diokno, it is expected that the Bureau of Treasury will be able to generate an initial $1 billion from the aforementioned offering and there is a possibility that it will be increased when demand increases.
In order to entice investors, he said, the minimum investment requirement for retail dollar bonds was reduced from $300 to $200.
The offer period for the retail dollar bond will last two weeks and the actual sale is scheduled to take place in October.
While the Treasury’s target is to sell Sukuk bonds, which are Islamic bonds, from October to December.
In order to encourage investors and promote business in the country, the economic managers of the Marcos administration conducted a roadshow and briefings in the Middle East to promote Sukuk bonds.
