MANILA - The Philippines said Thursday it was planning to issue at least P30 billion ($590 million) worth of 5-year fixed rate Retail Treasury Bonds.

An auction for the minimum offer has been set for Nov. 20, with the offer period running from Nov. 20 to Nov. 29. Issue date is Dec. 4, the Bureau of the Treasury said on Thursday.

The government last issued RTBs in April this year, raising more than P180 billion amid strong demand from small investors looking for safe investment options.

