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Vice President and Pag-IBIG Fund Board Chairman Noli De Castro, together with Pag-IBIG President and CEO Atty. Romero F.S. Quimbo (extreme right), receives a facsimile check for P2.0 billion from Land Bank of the Philippines President and CEO Gilda E. Pico and Development Bank of the Philippines Chief Operating Officer Edgardo Garcia (3 rd and 4 th from right, respectively) during the ceremonial closing program for the Pag-IBIG Fund Housing Bonds, Series of 2007 held recently.

The amount represents the proceeds of sale for the Fund’s Kaunlaran ng Bayan Housing Bonds which was successfully auctioned to institutional investors on 7 March 2007 and offered to individuals during a limited retail period. The Pag-IBIG Housing Bonds has a maturity term of five years and one day, and an interest of five percent per annum. This is the lowest coupon rate for any government-owned and controlled corporation bond issuance in recent history. (Photo by Edgardo A. Abarabar)