The Land Bank of the Philippines (LANDBANK) has joined hands with the BDO Capital & Investment Corporation (BDO Capital) in arranging a P5-billion syndicated corporate notes facility with other domestic banks, to support ASA Philippines Foundation, Inc.’s (ASA) credit expansion for underserved women.
The state-run Bank has a significant participation in the syndicated transaction, the proceeds of which will be used for ASA’s working capital to reach and empower more women in the country through the provision of accessible financing.
“We, at LANDBANK, welcome this timely opportunity to advance gender equality and women empowerment. Through our collective efforts and joint resources, we can foster an equal playing field for all – regardless of gender – to further boost economic productivity and growth,” said LANDBANK President and CEO Lynette V. Ortiz.
ASA’s five-year corporate notes issuance was classified as the first-ever Gender Bonds in the country, as certified by social bond second-party opinion provider DNV and registered with the Securities and Exchange Commission (SEC).
The issuance of the first-of-its-kind bonds was launched on 05 July 2023 in Pasig City, following a ceremonial signing between ASA President and CEO Kamrul H. Tarafder, LANDBANK President and CEO Ortiz, BDO Capital President Eduardo V. Francisco, and other industry leaders for ASA’s notes facility.
Joining them were Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat, ASA Board Member Eric L. Gotuaco, and other development partners.
LANDBANK Investment Banking Group and BDO Capital jointly arranged the syndicated transaction, with RCBC Trust and Investment Group serving as the Security Trustee and Notes Facility Agent. Other lenders to the transaction include the BDO Unibank, Inc., Philippine National Bank, Bank of the Philippines Islands, and Security Bank.
LANDBANK has been supporting ASA’s expansion since 2014, as part of its steadfast support to microfinance organizations in the country. The new partnership likewise complements the state-run Bank’s efforts to provide ample opportunities for women entrepreneurs. (PR/Landbank)