Close  

‘Premyo’ bond launch has a date: Nov. 25

By: - Reporter / @bendeveraINQ
/ 05:01 PM November 20, 2019

Those who want to win up to P1 million in cash while also investing their hard-earned money, mark your calendars: the Bureau of the Treasury will launch the much-awaited “premyo” bonds on Monday, Nov. 25.

In an advisory on Wednesday, Nov. 20, the Treasury said the one-year “premyo” bonds “shall provide individual investors, associations, and cooperatives an opportunity to invest in government securities while giving them a chance to win cash prizes for a minimum investment of only P500.”

ADVERTISEMENT

The launch will be held at the state-run Development Bank of the Philippines (DBP), one of the six so-called coordinators of the premyo bond sale.

The other coordinators were state-run Land Bank of the Philippines (Landbank), BDO Unibank, China Bank, Philippine National Bank (PNB), and First Metro Investment Corp. (FMIC).

FEATURED STORIES

According to the Treasury, Landbank will sell the premyo bonds online, while the debt paper will be made available by other banks over-the-counter.

At least P3 billion in premyo bonds will be sold in multiples of P500, giving ticket holders the opportunity to take home up to P1 million and other prizes during the quarterly raffles.

Finance Secretary Carlos G. Dominguez III had already given the green light to the sale of premyo bonds.

The offer period would likely be longer than the usual two weeks for retail treasury bonds (RTBs), as the Treasury was pitching the IOUs as a gift idea for the Christmas season.

Edited by TSB
Read Next
LATEST STORIES
MOST READ
Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: banks, Bonds, Investment, raffle, Treasury
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2019 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.