25.5 C
Cagayan de Oro
Friday, July 19, 2024
spot_img
HomeAdvertisementsLANDBANK makes RTB-29 purchase easier, more accessible

LANDBANK makes RTB-29 purchase easier, more accessible

The Land Bank of the Philippines (LANDBANK) is providing Filipinos with safe and convenient options to invest their hard-earned money in the Retail Treasury Bonds Tranche 29 (RTB-29) with Bond Exchange. This is being offered by the National Government through the Bureau of the Treasury (BTr).

Launched on 07 February 2023 with the theme, “Sama-sama sa Bagong Pag-asa,” the RTB-29 is a five-and-a-half-year bond with a coupon rate of 6.125% per annum. Proceeds of this safe and high-yielding investment instrument will help fund the country’s development plans for agriculture, infrastructure, education, and healthcare systems, among others.

“We expect RTB-29 to be well-received by the market given the higher interest rates. The more retail investors participate in RTBs, the faster we are to advancing the country’s development agenda where no one is left behind,” said LANDBANK President and CEO Cecilia Cayosa Borromeo.

Interested investors may conveniently purchase the RTB-29 with a minimum investment of P5,000 and integral multiples thereof, via the LANDBANK Mobile Banking App. This feature is also available in the Mobile Banking App of the Overseas Filipino Bank (OFBank), the official digital bank of the Philippine government and a subsidiary of LANDBANK.

Investors of the RTB-29 can also make online placements through the BTr Online Ordering Facility and settle the payments via LANDBANK’s Link.BizPortal, free of charge. Over-the-counter placements are accepted in all LANDBANK branches nationwide.

Holders of previously issued bonds, namely FXTN 5-75, 7-58, and 20-5, may also exchange and reinvest their bond holdings for the latest bond offer.

The public offer period for RTB-29 is ongoing until 17 February 2023, with issue date on 22 February. The maturity date is on 22 August 2028.

LANDBANK is the Joint Lead Issue Manager for the RTB-29. It is part of its continued support for greater financial inclusion and boosting public resources to fund various recovery and development programs.

####

RELATED ARTICLES
Advertismentspot_img

Most Popular

Recent Comments