BDO Unibank, Inc. used the proceeds of its sustainability bonds issued last year to finance 28 green projects, it said on Thursday.

The financed projects involved the reduction of greenhouse gas emissions, creation of sustainable infrastructure through construction or retrofitting of green buildings, and promotion of water conservation through enhancement of wastewater treatment facilities, the Sy-led bank said in a statement.

BDO raised P52.7 billion from its offer of two-year ASEAN sustainability bonds in January 2022, which had a 2.9% fixed interest rate, payable quarterly on a 30/360 basis. This made up the third tranche of BDO’s P365-billion bond program.

The Sy-led bank also raised P63.3 billion from 1.5-year ASEAN (Association of Southeast Asian Nations) sustainability bonds earlier this year. The notes fetched a coupon rate of 6.025% per annum.

Proceeds from BDO’s first sustainability bond were also used for loans to 488,450 micro, small and medium enterprises and funded activities that helped create or retain 70,655 jobs, including displaced, underprivileged, and unemployed Filipinos, BDO’s ASEAN Sustainability Bond Impact Report showed.

The ASEAN Sustainability Bond Impact Report was prepared in accordance with the ASEAN Guidelines on Sustainability Bond Standards, International Capital Market Association, Harmonized Framework for Impact Reporting, and aligned with the United Nations’ sustainable development goals and BDO’s Sustainable Finance Framework.

“BDO remains committed to a sustainable future by providing financial support to initiatives that create opportunities, uplift the lives of Filipinos and help contribute to the nation’s progress while transitioning to a low carbon, environmentally responsible, and socially inclusive economy,” the lender said.

The bank’s net income grew by 28.55% to P73.4 billion in 2023 amid the growth of its core businesses.

BDO’s shares rose by 50 centavos or 0.32% to close at P154.50 apiece on Thursday. — AMCS

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