THE Land Bank of the Philippines (LANDBANK) raised P50 billion from its dual-tenor sustainability bond offering as it saw strong demand from both institutional and retail investors.
This was above its initial P30-billion target as total orders for the bank’s Agriculture, Sustainability, Environment, and Socioeconomic Development (ASENSO) Bonds reached over 10 times the P5-billion minimum offer, prompting it to close the offer period early, it said in a statement on Tuesday.
The 1.5-year Series B tranche was priced at 5.1714% per annum, while the three-year Series C papers were sold at 5.5615% per annum.
The bonds were listed on the Philippine Dealing and Exchange Corp. on Monday.
“Proceeds will fund green and social projects nationwide — covering renewable energy, food security, affordable housing, employment, and socioeconomic empowerment — benefiting farmers, fishers, MSMEs (micro, small, and medium enterprises), and households while advancing LANDBANK’s mission of inclusive, climate‑resilient growth,” the bank said.
“Project evaluation and selection will be conducted in accordance with LANDBANK’s Sustainable Framework, and an allocation report will be prepared within one year from issuance of the ASENSO Bonds.”
The ASENSO Bonds are the first corporate bond offering in the country that was available via direct in-app purchase, which was done on the LANDBANK Mobile Banking App (MBA).
The bank said the offering saw 16,914 retail investors subscribing to the issue via LANDBANK MBA, through in-branch transactions, and via its authorized selling agents.
Its mobile app facilitated over 7,000 completed transactions across the two tenors, it added.
“Beyond the scale of capital raised, this issuance stands out for its inclusivity and innovation. For the first time, corporate bonds were made accessible for direct purchase through a mobile banking application. This is finance with purpose. This is capital aligned with national progress. And for LANDBANK, this is only the beginning,” said LANDBANK President and Chief Executive Officer Lynette V. Ortiz said.
China Bank Capital Corp. (Chinabank Capital) was the sole issue manager for the bond offering, with LANDBANK and Chinabank Capital acting as selling agents.
The state-run bank’s net income grew by 24.38% year on year to a record-high P43.98 billion in 2025. — A.M.C. Sy
