State-owned Development Bank of the Philippines (DBP) has won five awards from an association of investment houses for its laudable contributions in advancing the development of capital markets in the country, a top official said.
DBP President and Chief Executive Officer Michael O. de Jesus said the Bank was cited by the Investment House Association of the Philippines (IHAP) for its support to various public-private sector undertakings that promoted innovation in the areas of infrastructure, agriculture, and tourism.
“We are grateful to IHAP for recognizing DBP’s critical role as an essential developer and driver of the Philippine capital markets,” de Jesus said. “We are committed to formulating new and innovative ways to support investment transactions that will boost critical sectors such as infrastructure, agriculture, and tourism.”
DBP is 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.
IHAP is a non-stock, non-profit organization established in 1974 to raise public awareness on the investment houses in the country and their contribution in the growth of Philippine businesses and the economy through the development of the capital markets.
De Jesus said the Bank was cited in the 8th IHAP Awards for deals completed in 2022 for the Best Fixed Income Deal (Small Mid Cap) for its support to Ada Manufacturing Corporation’s (AdamCo) P1.5-billion Corporate Notes Deal to support farm mechanization of the Rice Competitiveness Enhancement Fund.
He said DBP was awarded Best Project Finance Deal (Large Cap) for its role in SMC SLEX Holdings Company, Inc.’s P20-billion Syndicated Term Loan Facility to finance the expansion of the South Luzon Expressway.
“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 the investment banking and capital markets by providing advisory, and debt syndication services to our valued clients,” de Jesus said.
DBP was also cited by IHAP in the 7th annual awards for the following transactions in 2021: 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.