National Deputy Treasurer Sharon Almanza said in an interview with reporters that Finance Secretary Carlos Dominguez has approved the planned issuance of the prize bonds.
Bureau of the Treasury FB Page/File
BTr to launch P3 billion lottery bonds this month
Lawrence Agcaoili (The Philippine Star) - November 19, 2019 - 12:00am

MANILA, Philippines — The Bureau of the Treasury (BTr) will launch the so-called prize bonds this month to give small and individual investors an opportunity to win as much as P1 million cash for as low as P500 in investments.

National Deputy Treasurer Sharon Almanza said in an interview with reporters that Finance Secretary Carlos Dominguez has approved the planned issuance of the prize bonds.

“We got the approval from the (finance) secretary and we will be announcing soon,” Almanza said.

She said the government is looking at raising at least P3 billion for the initial offering of the one-year prize bonds.

Under the planned prize bond offering, the Treasury will sell the securities at multiples of P500. She said each investment would carry quarterly coupon payments, as well as a chance to win cash prizes during quarterly draws.

Unlike in regular raffle games, investors can still redeem their principal payments when the bonds mature after one year.

The online offering would initially be limited to those with accounts with state-run Land Bank of the Philippines, but clients of other banks could avail of the prize bonds over-the-counter.

Joint coordination of the planned offering aside from Landbank include state-owned Development Bank of the

Philippines, BDO, China Bank, Philippine National Bank and First Metro Investments Corp. (FMIC).

The Treasury is conducting provincial roadshows like what it usually does for its retail treasury bond offerings.

“I think it will be longer than our usual RTB, because we want really the retail investors to be able to get, so usually two weeks for the RTBs, so maybe this one is longer,” Almanza said. 

BTR BUREAU OF THE TREASURY
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