The national government is aiming to raise a total of P3 billion from the issuance of another batch of “premyo” bonds, according to the Bureau of the Treasury.
“[We] will launch Premyo Bond 2 next month. Three-billion pesos [is the] target,” National Treasurer Rosalia de Leon told reporters via Viber on Monday.
De Leon did not give more details.
In August however, she disclosed that the premyo bonds could be also purchased through Bonds.PH — the Philippines’ first digital platform that enables small investors to buy government securities using their smartphones and other digital devices.
The government earlier raised P4.96 billion from its first premyo bonds issue.
The proceeds were 65 percent higher than the initial issue size of P3 billion amid strong demand from the investing public, including individuals and eligible institutions that make investments on behalf of their individual members.
The Department of Finance earlier said proceeds of the premyo bonds, which are now part of the national government’s proactive financing strategy, will help fund the country’s health and educational programs.
Those who purchased the bonds will earn 3 percent per annum to be paid quarterly for one year.
For a minimum investment of only P500, investors have a chance to win up to P1 million every quarter. Non-cash rewards in the form of condo units and a house and lot will also be given away to the winners of the top cash prize of P1 million.
Winners will receive the rewards net of all applicable taxes, fees and charges.