LAND BANK of the Philippines on Tuesday said a surge in investor demand has enabled it to raise P50 billion from its Agriculture, Sustainability, Environment, and Socioeconomic Development (Asenso) bonds.
The bonds, which were officially listed on the Philippine Dealing and Exchange Corp. on Monday, can be traded in the secondary market and give investors the option to sell before maturity.
Demand for the bonds exceeded 10 times the minimum P5-billion offer and beyond the bank’s P30-billion target, Landbank said, noting that it drew strong participation from retail and institutional investors.
A total of 16,914 investors participated in the offering, the highest retail bond availing recorded by the bank.
Proceeds will continue to finance projects that uplift communities, expand economic opportunities, and advance a more sustainable and inclusive future, Landbank said.
More specifically, the funds raised will be used in green and social projects nationwide, including renewable energy, food security, affordable housing, employment generation, and broader socioeconomic development that would benefit farmers, fishers, micro, small, and medium enterprises, as well as households across the country.
Project selection and evaluation for the Asenso bonds will follow its sustainable framework, with an allocation report to be prepared within one year from issuance.
The bonds also became the country’s first corporate bonds available for direct online purchase through the Landbank mobile banking app, with a minimum investment of P10,000, said Landbank president and CEO Lynette Ortiz.
“This is finance with purpose. This is capital aligned with national progress. And for Landbank, this is only the beginning,” she added.
More than 7,000 transactions were completed through the mobile app across the 1.5-year and 3-year tenors, reflecting the growing use of digital platforms in broadening investment access.
The bonds were issued under Landbank’s Sustainable Finance Framework, which has been recognized by credit ratings firm Moody’s for meeting global standards for sustainability bonds.
