InfoQuest (August 21, 2020) - The Finance Ministry's 50-billion baht government savings bonds will be sold to the public from next week to give taxpayers more investment alternatives, Patricia Mongkhonvanit said, Director General of the Public Debt Management Office.The bonds will be offered in two tranches as follows:
1) The second iteration of "Bond and Wallet"features 5 billion baht of four-year bonds with a coupon of 1.7 percent per year, available in My Wallet app at corresponding sections. Supported by bank's PromptPay system, a ceiling of5 million baht can be invested from August 25 to September 11, 2020.
2) "Moving Forward", the 45 billion of seven-year bonds with a 2.22 percent coupon, will be issued through four correspondent banks in two independent installments, respectively to people of Thai nationality and Thai residence with a per-investor quota of 10 million baht from August 26 to September 3, 2020, and to people of Thai nationality and Thai residence and legal persons of non-profit organizations with no ceiling from September 4 to September 11, 2020.
According to Patricia, the "Moving Forward" is issued through the well-established DLT Bond Platform in partnership with the four banks, with no cap set for each. A single bank can offer 10 million baht bonds for one investor once for all, able to improve issuance efficiency, save steps and time, and shorten bond book update to two days.
"Bond and Wallet" target small investors by dint of PromptPay, and will be acquirable on "Bond and Wallet" online system at the secondary market. This advancement caters to both digital era and investors' full-cycle demands.
"The Office will evolve the'Bond and Wallet' system into a main option of saving bondsespecially for young people above aged 15. A minimum of 100 baht is acceptable," said Patricia.
Source: InfoQuest, by Toboreu/Kasamarporn/Rachada, translated by Xinhua Silk Road
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