A top official of the Development Bank of the Philippines (DBP) announced recently that the state-owned financial institution has won a total of five awards for its laudable contributions aimed at advancing the development of capital markets in the country.
The award was conferred during the 8th IHAP Awards organized by the Investment House Association of the Philippines (IHAP), a non-stock, non-profit organization established in 1974 whose primary objective is to raise public awareness and promote a better understanding of the role and functions of investment houses.
The organization also aims to enhance its contribution to the growth of Philippine businesses (and to the economy) through the development of the capital market.
IMAGE CREDIT: www.dbp.ph/newsroom
According to Michael O. de Jesus, President and CEO of DBP, the bank was cited for its support of various public-private sector undertakings that promote innovation in the areas of infrastructure, agriculture, and tourism.
The DBP was cited for deals it completed in 2022.
The state-owned bank was awarded “Best Project Finance Deal (Large Cap)” for its role in the SMC SLEX Holdings Company, Inc.’s P20-billion Syndicated Term Loan Facility to finance the expansion of the South Luzon Expressway.
It was also conferred the “Best Fixed Income Deal (Small Mid Cap)” for its support to Ada Manufacturing Corporation’s P1.5-billion Corporate Notes Deal whose goal is to support farm mechanization of the Rice Competitiveness Enhancement Fund.
“We are grateful to the IHAP for recognizing DBP’s critical role as an essential developer and driver of the Philippine capital markets,” de Jesus said. “We remain committed to formulating new and innovative ways to support investment transactions that will help boost critical sectors such as infrastructure, agriculture, and tourism.”
“We are humbled and honored to be recognized alongside other full-service investment houses in the country. These awards truly highlight our unwavering commitment to strengthen and develop investment banking and capital markets by providing advisory and debt syndication services to our valued clients,” he added.
In 2021, the DBP was also cited by IHAP in the 7th annual awards for the following transactions: “Best Advisory Deal (Large Cap)” for Cebu Air Inc.’s P16-billion Business Transformation and Fund Raising Program; “Best Advisory Deal (Large Cap)” for GMR Megawide Cebu Airport, Inc.’s P23-billion Loan Facility Advisory Deal; and “Best Fixed Income Deal awards” (Small Mid Cap) for Science Park of the Philippines, Inc.’s P800-million Syndicated Term Loan and Security Arrangement Deal.
The DBP is currently the eighth-largest bank in the country in terms of assets and provides strategic financing support to critical economic sectors such as infrastructure and logistics, micro, small and medium enterprises, social services, and the environment.