BDO raises $100M via pioneering ‘blue bond’
Sy-led BDO Unibank Inc. issued its first ever international bonds aimed at sustainable water resources and cleaner seas.
The country’s largest lender announced on Tuesday the completion of a $100-million “blue bond” through an investment from the International Finance Corp. (IFC).
“This issuance will expand financing for projects that help prevent marine pollution and preserve clean water resources, while supporting the country’s climate goals,” BDO said in a statement.
BDO also called it a milestone offer since this was the first private sector blue bond issuance in Southeast Asia.
The bonds have a tenor of seven years and will adhere to the International Capital Market Association Green Bond Principle and IFC’s recently launched Blue Finance Guidelines.
“BDO’s issuance reinforces the bank’s commitment to sustainable finance, allowing the bank to provide more support to critical areas such as water conservation, wastewater treatment, plastic recycling, sustainable tourism, fisheries and sustainable seafood processing among others,” it said.
“More importantly, the bond will help BDO expand its sustainable finance framework to include projects supporting the country’s blue economy, while establishing a new asset class in the Philippine debt market,” it added.
BDO Capital & Investment Corp. acted as the arranger in this transaction.
