Arthaland completes P3-B green bond issue

Arthaland Corp. has completed a P3-billion green bond offering, the first of its kind rolled out by a nonbank entity in the local bond market.

In a disclosure to the Philippine Stock Exchange on Wednesday, Arthaland said it exercised its option to upsize the offering by P1 billion, allowing the company to raise a total of P3 billion.

Arthaland’s five-year bonds carry an interest rate of 6.3517 percent a year.The bond offering ended on Jan. 28. The bonds will be listed on the local fixed income trading platform on Feb. 6, 2020.

BDO Capital and Investment Corp. and ING acted as the joint lead underwriters and joint bookrunners for the offering. PNB Capital and Investment Corp. is colead manager.A partnership between the Po and Gonzales families, Arthaland is issuing the bonds under the framework for Association of Southeast Asian Nations green bonds, or those that raise funds for projects with clear environmental benefits.