DBP raises P8.25B from oversubscribed bond offering

State-owned Development Bank of the Philippines (DBP) successfully raised P8.25 billion from its latest dual local bond offering on Thursday, marking the seventh drawdown under its expanded P150-billion bond program.

The bonds were 1.65 times oversubscribed, allowing DBP to increase the issue size from the initial minimum of P5 billion.

Proceeds will support projects aligned with President Ferdinand Marcos Jr.'s vision of sustaining long-term economic expansion and promoting greater financial inclusion, as highlighted by DBP president and CEO Michael de Jesus.

DBP issued P3.457 billion in three-year bonds at a yield of 5.8751 percent and P4.793 billion in five-year bonds at 6.1454 percent.

The bank emphasized the strong market trust and its role in advancing sustainable economic growth, particularly in underserved areas.

Proceeds from this latest bond issuance will also be used for DBP's general operating requirements, including funding source diversification, balance sheet expansion, and lending activities.