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LANDBANK may offer sustainability bonds to raise over P20 billion
Land Bank of the Philippines (Landbank) plans to raise over P20 billion through an offering of sustainability bonds, potentially in the fourth quarter.
The upcoming issuance will be branded as "Asenso bonds," with proceeds intended to fund projects in agriculture, sustainability, environment, and social sectors.
Landbank President and CEO Lynette Ortiz stated that the bank is awaiting the optimal time for execution to secure the most favorable market conditions.
The bonds are expected to have a tenor between one and five years, considered the "sweet spot" for investor interest.
The bank is still determining whether to issue the bonds in one or two tranches.
Ortiz expressed optimism that the Philippines' inclusion in the J.P. Morgan Index for Emerging Markets will attract foreign investors to the bond market.
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