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Treasury eyes repeat of ‘premyo’ bond offer as sales breach P4B

By: - Reporter / @bendeveraINQ
/ 04:30 AM December 14, 2019

The Bureau of Treasury is planning another round of “premyo” bond sale next year as this year’s offer raised more than P4 billion in additional funding for the government’s priority programs and projects.

In a text message Friday, National Treasurer Rosalia V. de Leon said the Treasury would recommend to Finance Secretary Carlos G. Dominguez III a “repeat performance” of the premyo bonds offer.

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As of 1 p.m. Friday, the Treasury already sold more than P4 billion of the one-year IOUs, De Leon said.

The premyo bonds were made available to individuals, associations such as non-stock and loans associations as well as employee associations, cooperatives, employee retirement funds, provident funds and trust entities (except collective investment schemes or CIS, mutual funds and UITFs) until 3 p.m. Friday.

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De Leon had said that up to 90 percent of investors were individuals.

These premyo bonds will be issued on Dec. 18.

For the next premyo bonds issuance, De Leon said the Treasury would have to address challenges and improve access of investors.

Some investors had difficulty buying premyo bonds over the counter—which entailed filling out many documentary requirements—because the debt paper was sold online only by state-run lenders Development Bank of the Philippines and Land Bank of the Philippines as well as First Metro Securities Brokerage Corp.

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TAGS: ‘Premyo’ bonds, Bureau of the Treasury
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