Daily Tribune‘We hope to utilize proceeds from our Fixed-Rate Series 5 Bonds to boost credit support to our priority sectors while jumpstarting investments in the essential areas identified by the National Government, including Public-Private Partnership initiatives.’
State-owned Development Bank of the Philippines is planning to use P8.75 billion in bond proceeds for projects on telecommunications, water and agriculture.
“We hope to utilize proceeds from our Fixed-Rate Series 5 Bonds to boost credit support to our priority sectors while jumpstarting investments in the essential areas identified by the National Government, including Public-Private Partnership initiatives,” DBP president Michael de Jesus said.
DBP recently issued such bonds with a minimum amount of P2 billion.
It offered investors an interest rate of 6.102 percent per annum. The bonds will mature in 2025.
Jesus said the Fixed-Rate Series 5 Bonds are part of the bank's P150-billion bond program which supports infrastructure projects to create long-term economic growth.
“With this issuance, DBP takes another crucial step to shore up economic recovery and resilience efforts in the post-pandemic era for the Philippines with the Bank leading the way in channeling much-needed capital into the economy while facilitating investments in key sectors to boost economic activity,” De Jesus said.
