The Philippines will sell its first retail peso bonds of 2025 with a 2.5‑year maturity to raise 30 billion pesos ($478 million). A price‑setting auction on Sept. 29 precedes a public offering through Oct. 7. The Treasury is also offering exchanges for existing securities maturing in 2024 and 2027, which carry interest rates from 4.875 % to 8 % and total 583 billion pesos outstanding. Short‑term retail bonds help the government limit exposure to higher long‑term borrowing costs as the central bank hints at further rate hikes. Retail bonds, with a minimum investment of 5,000 pesos, are designed to make government debt accessible to individual investors. This sale marks 25 years since the Philippines first tapped the retail market for funding. The most recent retail bond sale in August last year raised 507.2 billion pesos.

Key entities include the Philippines Bureau of the Treasury, the Bangko Sentral ng Pilipinas, and investors.