Longer ‘premyo’ bonds offer period to entice more OFW investors

The Bureau of the Treasury will offer the one-year “premyo” bonds from Nov. 11 to Dec. 11, a longer period than last year’s offering, to entice more Filipinos living and working abroad.

National Treasurer Rosalia de Leon confirmed to the Inquirer that the second “premyo” bonds sale would take more than a month compared to the three-week offer period when these debt paper were first sold in 2019.

De Leon said the longer offer period took into consideration “current conditions,” referring to the prolonged COVID-19 quarantine that imposed restrictions on the movement of people as well as businesses’ operations.

“We also want to reach more overseas Filipinos with the mobile app,” De Leon added, referring to the soon-to-be-launched new application that would allow online purchases of “premyo” bonds.

During the sale of five-year retail treasury bonds (RTBs) last August, Filipinos in 24 countries invested a total of P1.95 million through the Bonds PH mobile app.

De Leon had said the quarterly raffle for the 2020 “premyo” bonds would give away bigger cash and noncash prizes, including cars on top of house-and-lots or condominium units.

The Treasury is planning to raise at least P3 billion from these securities, which are aimed at small investors as each bond will cost only P500.

Last year, the Treasury sold P4.96 billion in “premyo” bonds, above its P3-billion goal, such that the government almost doubled the number of winners for each of the quarterly raffle draw. INQ