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China Bank donates condo unit for Premyo Bonds 2

Friday, June 18, 2021

China Bank is helping make investing in government bonds truly rewarding.  At the second quarterly draw of the Bureau of the Treasury's (BTr) Premyo Bonds 2 last June 16, the Bank formalized its donation of an SMDC condominium unit as grand prize for the third quarterly draw on September 16, 2021. 

China Bank President William C. Whang commended the BTr for making it affordable, accessible, and attractive for individual investors to invest in government securities.

The Premyo Bonds are among the government's investment options for retail investors.  The minimum investment is only P500 and bondholders get a chance to win up to P1 million in cash and other prizes during the quarterly draws.  Premyo Bonds 2, a one-year bond which pays 1.25% interest p.a., was offered from November 11 to December 11, 2020.  China Bank Capital was one of the joint issue managers of the first and second issuances of Premyo Bonds.

"The success of Premyo Bonds shows that more and more Filipinos are now getting into treasury bonds, thanks to the BTr's efforts to develop the capital markets and promote financial inclusion in the country.  The BTr is absolutely right in combining the best elements of rewards and bond investing to encourage retail investors to participate. And China Bank is commited to support the government's bond offerings dor our country's progress and to provide our clients with affordable and sound investment options," said Whang.

The government raised P6.56 billion from the Premyo Bonds 2 offering, more than two times higher than the P3-billion target.  The Premyo bond sale forms part of the government’s borrowing program for 2020, which was raised to P3 trillion to generate funds for COVID-19 response programs.

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