The bonds were sold in 1.5-year and 3-year terms with a P10,000 minimum, attracting 16,914 investors including over 7,000 purchases done directly on the LANDBANK mobile app.
ASENSO stands for Agriculture, Sustainability, Environment, and Socioeconomic Development, LANDBANK’s label for sustainability-linked funding.
“Beyond the scale of capital raised, this issuance stands out for its inclusivity and innovation," said LANDBANK president and CEO Lynette V. Ortiz.
"For the first time, corporate bonds were made accessible for direct purchase through a mobile banking application. This is finance with purpose. This is capital aligned with national progress. And for LANDBANK, this is only the beginning,” she added.
It is the first Philippine corporate bond sold directly to retail investors inside a bank platform and listed on the Philippine Dealing and Exchange Corp. (PDEx), allowing trading before maturity.
Funds will go to renewable energy, water systems, hospitals, housing, and loans to small businesses and farmers under LANDBANK’s sustainability framework.
LANDBANK’s existing lending programs already finance 5,200 megawatts of renewable power, water projects in 22 districts, and 132 hospitals.
—Edited by Miguel R. Camus
