MANILA, Philippines – The Bureau of the Treasury will commence Wednesday the 15th to top up the COVID-19 war chest.

In a bid announcement issued to all state securities dealers (GSEDs) on Monday National Treasurer Rosalia de Leon said that the retail onshore dollar bonds will have two maturities: five and ten years.

After Wednesday’s interest rate auction, these bonds will be issued with maturities 2026 and 2031 through Offered October 1st. Settlement will take place on October 8th.

Retail investors can buy the bonds in denominations of at least $ 300 and then in multiples of $ 100, the Treasury Department said.

The Treasury Department will purchase these bonds online -Provide channels such as the ordering function on its website as well as the mobile banking applications of Land Bank of the Philippines (Landbank), Overseas Filipino Bank (OFBank) and Union Bank of the Philippines. BONDS.PH app.

Those who purchase the bonds online “can make as many transactions as they wish, provided that there is a minimum of $ 300 per transaction and a maximum of P500,000 dollar equivalent The Treasury Department announced that the Treasury Department had already planned to issue retail dollar bonds in mid-August, but it had postponed the offer when Metro Manila returned to the strictest Extended Community Quarantine (ECQ) last month.

Prior to this issue, the Treasury Department hosted webinars for Filipinos living or working overseas to showcase the RDB as a viable investment.

De Leon had said that the proceeds from the dollar personal bond sales will be spent on responding to COVID-19 amid the ongoing pandemic.

Im yes In 2012, the Treasury issued 10.5-year US dollar bonds worth US $ 500 million onshore, but these were only sold to government financial institutions (GFIs) and institutional investors.

You can find more news about the novel coronavirus here.
What you need to know about Corona.

For more information on COVID-19, call the DOH hotline: (02) 86517800 local 1149/1150.

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Ref: https://business.inquirer.net