Premyo bonds sale to start ‘very soon’

With Finance Secretary Carlos G. Dominguez III’s approval secured, the Bureau of the Treasury will “very soon” start offering the one-year “premyo” bonds that shall give investors a chance to win cash and noncash prizes.

Deputy Treasurer Sharon P. Almanza told reporters after Monday’s Treasury bill auction that the premyo bonds would be launched this month and be offered for a longer period than the usual two weeks for retail treasury bonds (RTBs).

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 raffle.

Land Bank will sell premyo bonds online while the debt paper will be made available by other banks over-the-counter, Almanza said.

The joint coordinators for the issuance will be Landbank and DBP; BDO; China Bank; PNB and FMIC.

Meanwhile, the Treasury awarded only P17.99 billion out of its P20-billion bills offering as it capped the rate for the 182-day IOUs.

The P3.99 billion in six-month bills were sold at an average of 3.249 percent such that the Treasury was unable to sell all P6 billion it offered.

The P8 billion in 91-day and P6 billion in 364-day securities were awarded at 3.168 percent and 3.501 percent. —BENO. DE VERA