PH releases Premyo bonds

BUSINESS
By Mark Francisco
November 28, 2019

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THE Philippine government through the Bureau of Treasury has released a public offering of so-called Premyo Bonds which started last November 25 and will end until December 13 this year.

In a public forum held last Wednesday at Seda Centrio in Cagayan de Oro City, Bureau of Treasury director Eduardo Anthony Mariño III reported that the minimum investment for the Premyo Bonds is P500 and in multiples of P500 thereafter.

With an issue date of December 18 this year, the maturity date of each bond will be on December 18, 2020 with an interest rate of three percent that is paid quarterly.

Mariño further said that a maximum acquired bond of 20,000 units or P10 million is eligible for inclusion in each cash rewards draw with one winner of P10 million, one winner of house and lot each from Hotel 101, Lessandra by Vista Land and Megaworld, ten winners of P100,000 and 50 winners of P20,000. Draws will be held quarterly within the period before maturity.

The Premyo Bonds can be acquired by individuals, trust entities, employee retirement funds, provident funds, cooperatives and associations.

It is initiated by the Bureau of Treasury to make government securities available to small retail investors, according to Mariño.


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