MAASIN CITY, Dec. 12 (PIA) -- In order to raise funds to finance the infrastructure and health programs of the government, the Bureau of Treasury (BTr) resorted to domestic borrowings by offering what it called Premyo Bonds.
"As its name implies, Premyo Bonds carry prizes of up to P 1 million pesos plus house and lot for lucky winners drawn quarterly next year," said Fernando Duena, officer-in-charge of the BTr - Southern Leyte Provincial Office.
A minimum of P500 investment entitles the holder to one raffle ticket, the maximum is P 10 million to avail of tickets, and beyond that figure there will be no more tickets, Duenas said during the Kapihan interview live over DYDM.
The bond offering was opened for a limited period of time, from November 25 up to December 13, 2019, or three weeks only, and the bond certificated covered a full year, from December 18, 2019 to December 18, 2020, with an interest of 3 percent.
Interested investors may go to accredited banks like Landbank, DBP, and Metrobank, among others, to fill-up forms, or go online, Duenas said.
The goal was to generate P3 billion out of the Premyo Bond offering, and in the first week alone, the amount garnered had reached the P1.5 billion mark, Duenas reported.
Big-time investors beyond P10 million may do so within the three-week period as long as the target goal was not reached yet, Duenas said. (LDL/MMP/PIA-8, Southern Leyte)