Philippine National Bank and its investment banking arm, PNB Capital and Investment Corporation, were recognized by The Asset Triple A Sustainable Finance Awards, receiving two recognitions for their remarkable commitment to sustainable financing.
Marking a successful return to the offshore bond market after a five-year hiatus, the Bank won the ‘Best Sustainability Bond – Financial Institution’ award for issuing a $300-million sustainability bond, with J.P. Morgan as the bookrunner and lead manager.
The deal underscores strong investor confidence in the bank’s sustainability initiatives. The deal attracted a diverse group of investors, with 89 percent coming from the Asia Pacific (APAC) region and 11 percent from Europe, the Middle East, and Africa (EMEA).
“We are honored to receive this recognition for our sustainability bond offering which reaffirms our commitment to sustainable finance and responsible banking,” said Jose Eduardo S. de Rivera, First Vice President of PNB Capital.
“The overwhelming response from investors manifeststheir trust and belief in PNB and PNB Capital’s financial strength and long-term vision.”
Further, PNB Capital was cited for being one of the domestic underwriters for the Citicore Renewable Energy Corporation’s (CREC) P5.3-billion-peso initial public offering, which was awarded as the ‘Best IPO’.
