Gov't may offer again Premyo Bonds next year
The Philippine government is mulling to offer "Premyo Bonds Para sa Bayan" again if its maiden offering that was launched this week would become successful, the Bureau of Treasury said on Wednesday.
In a press briefing in Malacanang, National Treasurer Rosalia de Leon urged the public to invest in the Premyo Bonds, which the BTr unveiled on November 25.
"We could again rethink and of course, we have to coordinate with possible developers who can also, who would be sharing our advocacy on financial inclusion and be able to provide the non-cash rewards as well. So, yes, definitely, this is something that we'd like to do more," she said when asked if the government plans to issue the Premyo Bonds in the future.
Deputy Treasurer Erwin Sta. Ana said the recently-launched Premyo Bonds has the sovereign backing of the government and therefore credit-risk free.
He said the minimum denomination of the bond is only P500 with an interest of three percent for one year to be earned quarterly.
The minimum investment is P500 and for every P500, there is a corresponding one raffle coupon, he said.
"So investors would have the chance to win up to 1 million pesos as the first prize, second prize would be P100,000 and third prize would be P20,000," he said.
For every quarter for three quarters next year, one will win P1 million; 10 persons, P100,000; and 50 investors, P20,000.
Aside from cash prizes, investors could also have the chance to win condominium units or house and lot to be given by three participating institutions - Vista Land, Mega World and Double Dragon.
BTr has partnered with five selling agency banks to help in the distribution of the Premyo Bonds - Land Bank of the Philippines, Development Bank of the Philippines, BDO Capital, China Bank Capital, and First Metro Investment Corp.
"We intend to raise at least P3 billion in this offering," Sta. Ana said.
He said the proceeds would be used to finance the educational requirements, housing, healthcare and other government social services.
Those interested to invest could avail of the offer until December 13 this year.
The maturity date of the Premyo Bonds is on Dec. 18, 2020. Celerina Monte/DMS
