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The Development Bank of the Philippines (DBP) headquarters in Makati City is shown in this file photo taken on Feb. 20, 2020. Jonathan Cellona, ABS-CBN News
MANILA -- State-owned Development Bank of the Philippines (DBP) said its latest local bond issuance raised P3.8 billion in fresh funds.
DBP president and CEO Michael De Jesus said the bank's 1.5-year fixed-rate series 4 bond issuance reached more than 3.6 times the announced minimum issue size of P2 billion.
The latest bonds were offered at par value with an interest rate of 6.41 percent per annum and are set to mature in January 2025.
The funds would be channeled to augment future loan growth pipeline, balance sheet expansion, and diversify funding sources.
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