DBP raises P8.25 billion from oversubscribed bond issuance

The Development Bank of the Philippines (DBP) successfully raised P8.25 billion through a dual bond issuance, which was oversubscribed by 1.65 times.

The proceeds from this offering will be used to support projects aligned with the government's economic development agenda.

DBP president and CEO Michael de Jesus stated that the bank was able to upsize the offering from its minimum of P5 billion due to strong market demand.

This capital market mobilization will enable DBP to expand its funding base and finance initiatives that complement President Ferdinand Marcos Jr.'s vision for economic expansion and financial inclusion.

The issuance consisted of P3.46 billion in 7A bonds with a three-year tenor yielding 5.8751% per annum and P4.79 billion in 7B five-year bonds yielding 6.1454% per annum.

These bonds have been enrolled and are now traded on the Philippine Dealing and Exchange Corp.