Who can participate in the Exchange Offer? May 17, 2022 10:18 Updated Bondholders of the following securities (the “Eligible Bonds”) are eligible for the Exchange Offer (the “Eligible Bondholders”): Please refer to the Notice of Offering of RTB 23 on the BTr website (www.treasury.gov.ph) for more information. Related articles Enabling two-factor authentication via OTP When and where can an investor purchase RTBs? Why invest in RTBs? How do I withdraw my interest income or my principal balance after maturity or upon sale?