Land Bank of the Philippines (Landbank) aims to raise P50 billion through a bond issue, expected to be the largest in its history, with plans to tap the debt market by the last quarter of 2024.
The proceeds will fund various loan programs, prioritizing domestic creditors, as part of Landbank’s balance sheet management strategy.
The move follows Landbank’s strong performance, recording a net profit of P12 billion in the first quarter of 2024, and its recent capital infusion into the Maharlika Investment Fund.
Landbank is closely monitoring interest rate trends and awaits amendments to its charter to pave the way for its stock market debut.
Source: PhilNews24 | May 24, 2024
