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BTr sells P6.56 billion in Premyo bonds

The Bureau of the Treasury (BTr) on Friday said it has raised P6.56 billion from the latest issuance of one-year peso denominated Premyo bonds.

“We are delighted that the Premyo bond sales reached P6.56 billion, exceeding not only the P3-billion target, but also surpassing the P4.96 billion we raised last year,” National Treasurer Rosalia V. De Leon said at the bond’s raffle draw streamed on the BTr Facebook page.

The papers, which require a minimum investment of P500, carry a coupon rate of 1.25%. Holders of Premyo bonds can also win cash prizes in quarterly raffle draws.

Ms. De Leon said interest was strong both domestically and abroad, particularly from overseas Filipinos and corporations.

“Investments were generated from 70 countries and overseas Filipinos accounted for 15.7% of the total number of transactions,” she said.

“We are also pleased to share that some corporations are now taking advantage of Premyo bonds as a meaningful way of rewarding employees during the Christmas season.”

Amid pandemic restriction measures, the bonds were made available through online selling platforms such as Bonds.PH and the Overseas Filipino Bank.

“Around 17.6% of individual accounts were made using our mobile app Bonds.PH and the Overseas Filipino Bank application,” Ms. De Leon said.

Moreover, Ms. De Leon said their offer period coincided with the 12.12 sale of major online retail platforms.

“Despite this, we are pleased to note that an increasing number of Filipinos still prioritized their future over the ephemeral joy of shopping,” she said.

The bond offer period ran from Nov. 11 to Dec. 11.

Selling agents for the offering include the Development Bank of the Philippines, BDO Capital and Investment Corp., First Metro Investment Corp., Philippine National Bank Capital, UnionBank of the Philippines and Land Bank of the Philippines.

The government’s gross borrowings reached P3.224 trillion in the 10 months to October. — Luz Wendy T. Noble

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