ASA Philippines Foundation, Inc., the country’s leading microfinance non-government organization, successfully raised P5 billion from the issuance of the Philippines’ first ever Gender Bonds offering.
The proceeds of the issue will be used for working capital purposes to expand ASA’s lending business, which wholly targets women as principal borrowers in an effort to empower them and achieve financial inclusion for the vulnerable, indigent female sector.
The corporate notes issuance was classified as a Gender Bond due to the intended beneficiaries.
The bond offering was jointly arranged by BDO Capital & Investment Corp. and the Investment Banking Group of the Land Bank of the Philippines. The bonds notes were issued on July 5.
“We at BDO Capital and LANDBANK are extremely proud to be a part of this landmark issue that combines excellent corporate credit and a noble social cause,” said BDO Capital president Eduardo Francisco.
