PH Embassy in Singapore Hosts Premyo Bonds Seminar

 Deputy Treasurer of the Philippines Gisela F. Lood (standing foremost) gives her presentation on the offering of Premyo Bonds to Filipino community members in Singapore on 24 November 2019. (Singapore PE photo)

SINGAPORE 13 December 2019 — The Philippine Embassy in Singapore hosted a financial literacy seminar on Buying Bureau of Treasury Premyo Bonds on 24 November 2019.

Deputy Treasurer of the Philippines Gisela F. Lood and representatives of the Bureau of Treasury, Land Bank of the Philippines, Development Bank of the Philippines, and Philippine National Bank promoted the latest Bureau of Treasury government security product, the Premyo Bond.

Previous government securities issued by the Bureau of Treasury include Treasury Bills, Retail Treasury Bonds, Fixed Rate Treasury Notes (FXTNs), Republic of the Philippine Bonds (ROPs), Global Bonds, Euro Bonds, Panda Bonds and Samurai Bonds.

Deputy Treasurer Lood said that the Premyo Bond has a tenor of one year and offers a gross interest rate of 3.625 percent per annum, to be paid out in quarterly tranches. The Premyo Bond is being issued in bond units of PHP 500. A single person may purchase up to 20,000 bond units (PHP 10 million value).

In addition to the favorable short-term interest earning, the Premyo Bond issues a cash incentive through a quarterly raffle draw. At each draw, which will be held in March, June, September and December, one winner will receive PHP one million; ten winners will receive PHP 100,000; and 50 winners will receive PHP 20,000. Likewise, either a condominium or house-and-lot property will be raffled in two raffle draw dates.

The public offer period is from 25 November to 13 December 2019. The issue date is 18 December 2019 and maturity date on 18 December 2020.

Deputy Treasurer Lood said that bond units cannot be bought and sold in secondary markets and cannot be pre-terminated by the buyer.

The offering process during the public offering period is through traditional methods (through an authorized settlement bank or online through the Bureau of Treasury website www.treasury,gov.ph).

In the Philippines, the settlement banks are BDO Unibank, BDO Capital and Investment Corporation, Chinabank Corporation, China Bank Capital Corporation, Development Bank of the Philippines, First Metro Investment Corporation, Land Bank of the Philippines and Metropolitan Bank & Trust Co.

Three banks are authorized for the online purchase of the Premyo Bonds: Landbank, Development Bank of the Philippines, and MetroBank. END

For more information, visit https://www.singaporepe.dfa.gov.ph, https://www.philippine-embassy.org.sg or https://www.facebook.com/PHinSingapore.