LANDBANK may offer sustainability bonds to raise over P20 billion

LAND BANK of the Philippines (LANDBANK) is targeting to raise over P20 billion through an offering of sustainability bonds that it could launch in the fourth quarter.

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“We're planning to go to the market. We're just timing [it and] making sure that we issue within the right window... It will be market-driven, but we do have approvals for a pretty sizeable amount. But certainly, it will be more than P20 billion,” LANDBANK President and Chief Executive Officer Lynette V. Ortiz told reporters on the sidelines of an event on Tuesday.

‘The upcoming issuance will be branded as “Asenso bonds,” building on the bank’s AGRISENSO lending program, she said. Proceeds will fund projects in the agriculture, sustainability, environment, and social sectors.