Gov’t raises P5B from premyo bonds

    81

    The government has raised nearly P5 billion from its premyo bond issuance after the offer period ended last Friday, higher than the minimum issue size of P3 billion.

    Rosalia de Leon, national treasurer, told reporters over the weekend orders for the premyo bonds amounted to P4.961 billion during the offer period which ran from November 25 to December 13.

    De Leon had said in an interview early last week that she’s “happy” with the results of the issuance after it breached the P3 billion target.

    The bonds will be issued on December 18 and will have a tenor of one year and an interest rate of three percent per annum.

    On top of the quarterly interest payment, bondholders will get a chance to win P1 million via raffle draw every quarter as well as P100,000 and P20,000 cash rewards, the Bureau of the Treasury (BTr) earlier said.

    “The winner of the P1 million cash reward in the first, second, and third cash rewards draw will receive a non cash reward, which might be a condominium unit or a house and lot from Hotel 101, Lessandra by Vista Land, or Megaworld,” the BTr said.

    “A further benefit is that the non-cash reward will be net of all applicable taxes, fees, and charges,” the agency added.

    Joint issue managers and selling agents of the premyo bonds are the Development Bank of the Philippines, Land Bank of the Philippines, BDO Capital & Investment Corp., China Bank Capital Corp., and First Metro Investment Corp.