Development Bank of the Philippines Enrolls PHP 12 Billion Fixed Rate Bonds on PDExPosted on: May 4, 2022
04 May 2022, Makati, Philippines — State-owned Development Bank of the Philippines (DBP) returned to the Philippine Dealing & Exchange Corp. for the enrollment of its PHP 12 Billion 2.5-Year Fixed Rate bonds which carry an interest rate of 4.05%.
Despite the fact that enrollments are limited to only Qualified Investors as bondholders, the issuance was still oversubscribed from the original size of PHP 3 Billion, a testament to the confidence investors have towards DBP.
PDEx President and Chief Executive Officer Antonino A. Nakpil happily welcomed DBP back for today’s enrollment, the last one taking place in 2020.
“DBP was the second bank to issue a Sustainability Bond under its SEC-compliant and ASEAN+3 compliant Sustainability Principles. This was a natural fit given its many developmental initiatives that would easily qualify under the use of proceeds terms of these so-called thematic programs. With the continuous growth of the pools of professionally managed funds focused on Socially Responsible Investment globally, we expect this wave to hit the domestic QIB community and provide even more liquidity to DBP’s future enrollments whether green, social, sustainable, or newer themes.”, remarked Mr. Nakpil
Mr. Nakpil also acknowledged DBP for its outstanding performance in 2021. He said: “DBP’s activity in the fixed income markets extends beyond being a bond issuer, in fact, last month it was also recognized as one of the Top 5 Dealing Participants for 2021 during the Annual PDS Awards.”
DBP President and Chief Executive Officer Emmanuel G. Herbosa said the bond issuance is in line with the bank’s continuing efforts to advance sustainable growth through responsive development financing interventions. “We at DBP are greatly pleased to share with you the news that the bond issue was again warmly and widely received by the market. With this, I am glad to say that the Bank has further reinforced its wherewithal for making tailored-fit development financing solutions more responsive and accessible to our stakeholders,” announced Mr. Herbosa.
Mr. Herbosa added: “With this bond initiative we vow to ensure that we shall preserve, sustain, and take care of the Bank’s value up until – and especially even after – this ongoing public health crisis blows over. DBP will always remain committed to provide top-notch financial and banking services to all our stakeholders, not losing sight of our ever-hopeful vision to usher in growth for Filipinos nationwide.”
DBP is the fifth-largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small and medium enterprises; environment; social services and community development.
This 10th admission for 2022 brings the year-to-date total of new listings and enrollments to PHP 204.46 Billion, pushing the total level of tradable corporate debt instruments to PHP 1.35 Trillion issued by 53 companies, comprised of 190 securities.