12 February 2024, Makati, Philippines — State-owned Development Bank of the Philippines (DBP) returns to PDEx with the enrollment of its PHP 8.75 Billion Fixed Rate 1.5 – Year Bond, which carries a coupon rate of 6.1020% p.a., to be paid on a quarterly basis.

DBP is the eighth largest bank in the country in terms of assets and provides credit support to four strategic sectors of the economy – infrastructure and logistics; micro, small, and medium enterprises; the environment; and social services and community development.

In his welcome remarks, PDEx President & CEO Antonino A. Nakpil commends DBP for the successful bond issuance that was more than four times oversubscribed from the original issue size. “It is great to have DBP to help usher in the Lunar New Year and as the national government’s one focused institution toward long term finance, we believe we are with kindred spirits in the mobilization of funds for strategic purposes. So, we are doubly pleased to see DBP come to the capital market for its funding requirements and support it on its mission.  We note that true to form and despite being limited to Qualified Investors, your issue has been oversubscribed from the original PHP 2.0 Billion amount.”

On his end, DBP President & CEO Michael O. de Jesus also expressed gratitude on behalf of the Bank, to all parties involved in making the issuance a success. He remarked: “We are thankful to all the private and government investors for their trust and confidence that you have in DBP. This is not the last time that we are going to raise bonds, and we will [go back] to the capital market because we need to finance our developmental projects.”

This 3rd admission for 2024 brings the year-to-date total of new listings and enrollments to PHP 82.05 billion, pushing the total level of tradable corporate debt instruments to PHP 1.27 trillion issued by 45 companies, comprising 176 securities.