ASA Philippines Foundation, a non-profit microfinance organisation, raised Ps5bn (US$90m) from the country's first gender bonds on July 5.
The five-year notes were sold to primarily to institutional buyers. Terms have yet to be announced.
The funds raised will be used to boost lending to women entrepreneurs for business and quality of life purposes.
The Asian Development Bank provided technical assistance through the Asian Bond Markets Initiative to support the development of the bond framework and for capacity building. ABMI is an initiative of the governments of ASEAN, China, Japan and Korea to develop local currency bond markets.
The bonds were issued under the International Capital Market Association’s social bond principles and social bond standards by the Association of Southeast Asian Nations capital markets forums.