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Strong demand seen for 2nd Premyo bond issuance

By Joann Villanueva

November 4, 2020, 8:10 pm

<p>National Treasurer Rosalia de Leon</p>

National Treasurer Rosalia de Leon

MANILA – National Treasurer Rosalia de Leon is hopeful that investors of the first Premyo bond issuance will still avail of the second issuance that will be launched this Nov. 11.
 
The minimum target for the second issuance is PHP3 billion, the same as the first one, and de Leon expects this amount will be taken in by holders of the first Premyo bond.
 
“I hope all (of) PHP3 billion will switch,” she said in a Viber message to journalists Wednesday.
 
The offer period for the Premyo bond to be issued this year is until Dec. 11.
 
The Bureau of the Treasury (BTr) first issued the one-year Premyo bond in November 2019 and upsized the issuance to PHP4.961 billion from the PHP3-billion offer due to strong demand.
 
This debt instrument is one of the government’s offerings for retail investors since minimum placement is PHP500 while maximum investment is PHP10 million.
 
Holders of this debt paper are qualified for the quarterly raffle and the major winner for each quarter secures PHP1 million cash prize and a house and lot, or a condominium unit.
 
De Leon said holders of the initial issuance are qualified to join the second issuance and may win in the raffle for the last quarter this year, set on Dec. 18, and for next year.
 
“(They) just need to advise (their) bank to switch PB1 (Premyo Bond 1) to (Premyo Bond) 2,” she added.
 
De Leon said investors can avail of the debt paper over-the-counter through several banks online by using the mobile application Bonds.ph and the BTr website, and the new app that will be announced in a few days.
 
Last year, the government tapped the Land Bank of the Philippines, Development Bank of the Philippines, BDO Unibank, Metropolitan Bank & Trust Company, and China Banking Corporation as Premyo Bond selling agents. (PNA)
 
 

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