NCPO pushes bond sales

The military has asked the Finance Ministry to sell more savings bonds with high interest rates to meet public demand.

"The NCPO [National Council for Peace and Order] wants to return happiness to people so it wants the Finance Ministry to sell more bonds after the successful sale of two lots worth a combined 30 billion baht," said finance permanent secretary Rungson Sriworasat told Matichon Online.

On July 15, the ministry began selling two lots of savings bonds: one paying a 4.25% coupon rate and has a maturity of seven years and the other paying 4.75% for 10 years.

By Monday, the bonds sold out ahead of the July 25 deadline. 

The military therefore asked the Finance Ministry to sell more savings bonds with interest rates people find attractive, he said.

"The NCPO wants to return happiness to people so it wants the Finance Ministry to sell more bonds after the successful sale of two lots," he said.

"People were keen about them as the coupons are much higher than bank deposits' interest rates. So I've asked the Public Debt Management Office to work out how much more we can sell. The results should be known by the end of this month," Mr Rungson said.

Notably, another tranche giving 3.25% for three years still has 1 billion baht available.

People do not find its interest as attractive as the longer-term notes, he said.

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