State-run Land Bank of the Philippines (LANDBANK) successfully listed its P5 billion maiden offering of Sustainability Bonds on the Philippine Dealing and Exchange Corp. (PDEx) during a virtual ceremony held on November 17.
The issuance was more than five times oversubscribed, with total bids reaching P16.6 Billion, leading to an increase in the total issue size from P3 Billion to P5 Billion. LANDBANK closed the offer period on its very first day of offering last October 26, 2020 given the overwhelming market demand for the issue.
“Amidst the backdrop of a recovering economic environment, we are pleased with the strong investor confidence in LANDBANK’s stable financial position. The strong interest is also a clear reflection of the conscious and growing demand for environmental and socially responsible programs and initiatives that LANDBANK promotes,” said LANDBANK President and CEO Cecilia C. Borromeo.
The LANDBANK Sustainability Bonds were priced at a coupon rate of 2.5872% per annum, payable quarterly, the lowest rate among comparable issuers. It has a tenor of two years, maturing in 2022. The minimum investment amount is P50,000 and in multiples of P10,000 thereafter.
The Sustainability Bonds are designed to finance various loan programs that support sustainable green and social projects in accordance with LANDBANK’s Sustainable Finance Framework.
Standard Chartered Bank (SCB) is the Sole Arranger and Bookrunner of the bonds, as well as co-Selling Agent with LANDBANK.
For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).
LANDBANK unveils the Mastercard Prepaid Card for TES beneficiaries
(Top row, L-R) Philippine President Rodrigo Roa Duterte and House Speaker Lord Allan Jay Q. Velasco extend their congratulations during the virtual launch of the LANDBANK Mastercard Prepaid Card for the Tertiary Education Subsidy (TES) Program on January 15, 2021, led by (Bottom row, L-R) LANDBANK President and CEO Cecilia C. Borromeo, CHED and UniFAST Governing Board Chairman J. Prospero de Vera III, and UniFAST Executive Director Atty. Ryan L. Estevez. In partnership with the Commission on Higher Education (CHED) and the Unified Student Financial Assistance System for Tertiary Education (UniFAST), state-run Land Bank of the Philippines (LANDBANK) launched the LANDBANK Mastercard Prepaid Card (LMPC) for the Tertiary Education Subsidy (TES) Program on January 15, 2021. The LMPC is a general-purpose reloadable card for TES beneficiaries that functions as an electronic wallet and can be used as a debit or ATM card. Philippine President Rodrigo Roa Duterte and House Speaker Lord Allan Jay Q. Velasco extended their congratulations through recorded video messages during the launch. “The virtual holding of this ceremony is an affirmation of this administration’s unyielding commitment to make quality tertiary education more accessible for Filipino students, especially now that we are dealing with the COVID-19 pandemic,” President Duterte said. The virtual launch via Facebook Live was led by LANDBANK President and CEO Cecilia C. Borromeo, CHED and UNiFAST Governing Board Chairman J. Prospero de Vera III, and UniFAST Executive Director Atty. Ryan L. Estevez. President Borromeo announced that TES beneficiaries may withdraw their stipend using their LMPC through LANDBANK’s 2,320 ATMs and 411 branches nationwide. “We welcome this opportunity to provide efficient and secure banking services to student-beneficiaries. As your partner bank, we will ensure that the students will receive their monthly stipends in a timely, safe, and convenient manner,” President Borromeo said. Aside from accessibility and convenience, the LMPC also offers cashless payments, electronic funds transfers, and online account management, among others, as part of LANDBANK’s response to the growing demand of safer and digital financial solutions. Moreover, TES beneficiaries will also benefit from the other features of the LMPC such as 3DSecurity for secure online transactions, contactless “tap” payments, and reloading of funds at any LANDBANK branches or Agent Banking Partners across the country. “The LANDBANK Mastercard Prepaid Card that we are launching today will help ease the burden of our TES beneficiaries in receiving their TES amidst the restrictions of COVID-19,” said CHED Chairman De Vera. Also present during the virtual launch were Coordinating Council of Private Educational Associations Managing Director Atty. Joseph Noel M. Estrada, Association of Local Colleges and Universities UniFAST Commission Chairperson Dr. Elena E. Presnedi, and Philippine Association of State Universities and Colleges President Dr. Tirso A. Ronquillo. The TES Program is a joint venture among CHED, UniFAST, and LANDBANK that aims to prioritize support to more than 400,000 students from the poorest of the poor households. It also forms part of the implementation of Republic Act 10931 or the Universal Access to Quality Tertiary Education Act.LEARN MORE
PH Air Force launches online payment system powered by LANDBANK
Department of National Defense (DND) Secretary Delfin N. Lorenzana (2nd from left) and LANDBANK President and CEO Cecilia C. Borromeo (3rd from left) lead the launching of the Philippine Air Force (PAF) Online Payment System (POPS) at Camp General Emilio Aguinaldo, Quezon City on January 12, 2021. They are joined by (from L-R) Armed Forces of the Philippines (AFP) Deputy Chief of Staff Vice Admiral Erick I. Kagaoan and PAF Chief Lieutenant General Allen T. Paredes. In responding to the growing demand for safe and contactless payment services, the Philippine Air Force (PAF), in partnership with the Land Bank of the Philippines (LANDBANK), officially launched the PAF Online Payment System (POPS) at Camp General Emilio Aguinaldo, Quezon City on January 12, 2021. Powered by LANDBANK’s Link.BizPortal Facility, the POPS will facilitate the efficient online payment of light and water utility dues, bidding document fees, and trust receipts for the Air Force General Hospital. Through the POPS, PAF clients which include creditors, suppliers, and PAF personnel family members, will be able to settle their financial commitments in a faster, secure, and convenient manner. “With the Land Bank of the Philippines serving as our formidable partner in this project, and with everyone’s cooperation, I am sure that we will be able to experience more of the comfort, convenience, and benefits of a safe, fast, efficient, and reliable payment system,” said Department of National Defense (DND) Secretary Delfin N. Lorenzana. The launching ceremony was led by Defense Secretary Lorenzana, Armed Forces of the Philippines (AFP) Deputy Chief of Staff Vice Admiral Erick I. Kagaoan, PAF Chief Lieutenant General Allen T. Paredes, and LANDBANK President and CEO Cecilia C. Borromeo. They were joined by LANDBANK officials namely Branch Banking Sector Head, Executive Vice President Julio D. Climaco, Jr., South NCR Branches Group Head, Senior Vice President Ramon R. Monteloyola, South NCR Branches Group-Cluster C Relationship Officer, Assistant Vice President Mary Lilian M. Cruz, and Villamor Air Base Branch Head Ritzel S. Pagaduan. “We congratulate the Philippine Air Force for taking the lead, and being the first among the Major Services of the AFP to implement this online payment system. The launching of POPS is even more timely and relevant as we continue to leverage on digital channels to meet the growing demand for contactless financial solutions in the new normal,” LANDBANK President and CEO Borromeo said. The PAF is among the 767 LANDBANK Link.BizPortal partner-merchants nationwide. As of December 2020, the Link.Biz has successfully facilitated a total of 2.12 million transactions amounting to P7.95 billion, representing increases of 35% and 71%, respectively, over the same period in 2019. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).LEARN MORE
LANDBANK to open new Agri-Hub in Sta. Maria, Ilocos Sur
STA. MARIA, Ilocos Sur – State-run Land Bank of the Philippines (LANDBANK) will open its first Agri-Hub in the province of Ilocos Sur, the LANDBANK Sta. Maria Agri-Hub, on January 15, 2021. The LANDBANK Sta. Maria Agri-Hub will provide financial and technical services to the Bank’s clients, especially to more than 10,000 farmers and fisherfolk in the municipalities of Sta. Maria, Burgos, and San Esteban. LANDBANK’s Agri-Hubs are strategically located in the top rice-producing provinces in the country and designed to provide a wide array of services. This includes banking services such as account opening, withdrawals, and check encashments; lending services such as the processing of loan applications; and agrarian services such as processing of AR bonds and handling of agrarian-related concerns from landowners, bondholders, and Agrarian Reform Beneficiaries (ARBs). The LANDBANK Sta. Maria Agri-Hub will also offer LANDBANK’s various digital banking platforms, including the Digital Onboarding System (DOBS) which simplifies the account opening process for new clients to only 10-15 minutes. The Sta. Maria Agri-Hub will have its official inauguration on January 16, Saturday, to be led by Department of Agriculture Secretary William D. Dar, Sta. Maria Mayor Brigido Camarillo, Jr., Burgos Mayor Nathaniel D. Escobar, San Esteban Mayor Ray M. Elaydo II, and LANDBANK North Luzon Branches Group Head First Vice President Ma. Belma T. Turla. The LANDBANK Sta. Maria Agri-Hub is the 5th Agri-Hub to open nationwide, along with four (4) newly opened Agri-Hubs in Calabanga, Camarines Sur; Barotac Viejo, Iloilo; Sual, Pangasinan; and Echague, Isabela. LANDBANK now has a total network of 411 branches and 65 branch-lite units, composed of branch-lites, Agri-Hubs, LEAFs, tellering booths, and FX booths across all 81 provinces. This is complemented with 55 lending centers in strategic areas nationwide. For more updates, please Follow, Like and Share the official LANDBANK Facebook, Instagram and YouTube accounts (@landbankofficial), Twitter (@LBP_Official), or visit the LANDBANK website (www.landbank.com).LEARN MORE