Total tenders reached P16.7 billion but the BTr only settled for P16.4 billion.
RTBs are bonds offered by the National Government for a minimum amount of P5,000, making it a popular investment instrument for the public. On its fourth offering, the RTBs remained over-sold.
The tenders are for three-year and five-year maturities and interest rates of 9.5 percent and 10.357 percent, respectively.
In terms of volume, the three-year offer has P7.305 billion while the five-year has P9.102 billion.
A total of 17 financial institutions were involved in the marketing of the RTBs led by the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP). The two were also the main underwriters for the offer.
Last year, the government raised P62.9 billion from the issuance of RTBs. In 2001, it issued RTBs twice due to the huge demand for debt papers.
National Treasurer Sergio G. Edeza said investors came in huge numbers gobbling up whatever government could offer.
The RTBs help raise funds for government to cover its budget deficit.