The Bureau of the Treasury raised P212.7 million through its 30th tranche of Retail Treasury Bonds or RTB 30 launched on Tuesday.

The BTr set an initial offer amounting to P30 billion. The sale of the bonds will run until 23 February.

The BTr said RTB 30 already drew tenders amounting to P272.7 billion or nine times higher than the government's initial offer.

Department of Finance Secretary Ralph Recto said the sale of the bonds to individual investors will help more Filipinos build wealth toward national socioeconomic growth.

"We should instill in our people a mindset that embraces and normalizes a culture of saving and investing, all while actively participating in the nation’s development," he said during the RTB 30's launch at Ayuntamiento de Manila.

The DoF said the new bond sale will help the government raise a total of P2.46 trillion this year using digital tools.

The RTB 30 has a five-year tenor, a gross interest rate of 6.250 percent per annum, and is payable every quarter until its maturity in 2029.

Minimum investment is set at P5,000. The BTr said the bonds also feature a swap option for those existing holders of RTB 22 and 25.

Settlement is slated on 28 February.

The RTB 30 can be purchased using the BTr’s Online Ordering Facility for investor-clients of the China Banking Corporation, the Development Bank of the Philippines, the Land Bank of the Philippines and the First Metro Securities.

Another method is through mobile apps of LandBank, OFBank, and the Bonds.PH.

"Beyond fueling economic growth, innovation cultivates a broader outlook on nation-building," Recto said.