Standard Chartered Bank supports IFC’s Green Bond initiatives
THE INTERNATIONAL Finance Corporation (IFC) recently issued its maiden peso-denominated bond in the domestic capital markets called the “Mabuhay Bonds,” becoming the first supranational issuer in the Philippines in over a decade. Its P4.8 billion Green Bond with a tenor of 15 years is the longest bond issued in the market other than government securities. In line with its Green Bond initiatives, the proceeds of the issuance was on-lent to an eligible IFC climate project with focus on optimizing generation output of geothermal power plants in the country.
Standard Chartered Bank (SCB) acted as joint lead manager and bookrunner for this landmark transaction. “Standard Chartered Bank is privileged to support this sustainable financing transaction... Having been able to bring in a new supranational name into the Philippine market is testament to SCB’s expertise in the local capital markets’ landscape,” said SCB Philippines CEO Lynette V. Ortiz.