Landbank starts ASENSO bonds offer

State-owned Land Bank of the Philippines (Landbank) has kicked off the public offering of its fixed rate ASEAN sustainability bonds, aiming to raise at least P5 billion initially while opening bond investing to a broader base of retail investors with a minimum placement of just P10,000.

- By KEISHA TA-ASAN

In a statement, the bank said the offering of its ASENSO (Agriculture, Sustainability, Environment and Socioeconomic Development) bonds runs from Jan. 28 until Feb. 6 or earlier depending on market demand, following strong interest from institutional investors.

“Landbank is making sustainable investing more accessible than ever with the public offering of its fixed rate, high-yielding ASEAN sustainability bonds,” the bank said, noting that the bonds can be subscribed to via the bank’s mobile banking app, at Landbank branches and through authorized selling agents.

The bank finalized the pricing of the bonds after the institutional book-building, offering two tranches. The Series B bonds, with a 1.5-year tenor, carry a fixed coupon rate of 5.1714 percent per annum, while the Series C bonds, with a three-year tenor, offer 5.5615 percent per annum.