MANILA, Philippines - The government plans to borrow P120 billion from the domestic debt market in the fourth quarter, the Bureau of Treasury said yesterday.
The borrowing is made up of P40 billion worth of Treasury bills and P80 billion worth of Treasury bonds, according to a memorandum posted on the Bureau of Treasury website.
For the T-bills, the government will borrow P20 billion in October, and another P20 billion in November. The government will issue P4 billion worth of 91-day papers, P6 billion worth of 182-day papers, and P10 billion worth of one-year papers.
With regard to the T-bonds, the Treasury will offer P20 billion worth of 20-year RTBs in October, P30 billion worth of 7-year RTBs in November, and another P30 billion worth of RTBs in December.
In the third quarter, the government borrowed P150 billion from domestic sources. This was composed of P60 billion worth of T-bills and P90 billion worth of T-bonds.