Manila, Philippines - EastWest has been recognized with the Blue Bond of the Year – Philippines award at the 2025 Asian Banking & Finance (ABF) Corporate & Investment Banking Awards. The award acknowledges EastWest’s role as Joint Lead Underwriter and Joint Bookrunner (JLUB) in the successful Php 15.0 billion Blue Bond issuance of Maynilad Water Services, Inc. (Maynilad)—a first-of-its-kind transaction registered with the Philippines’ Securities and Exchange Commission (SEC), and Maynilad’s maiden issuance of SEC-registered bonds.

The July 2024 offering, conducted under Maynilad’s Sustainable Finance Framework, was substantially oversubscribed at almost two and a half times, signaling strong market appetite for sustainable investment opportunities. The transaction was aligned with international and regional principles, including the 2021 ICMA Green and 2023 Social Bond Principles, 2018 ASEAN Sustainability Standards, and IFC’s 2022 Blue Finance Guidelines.

“This milestone is proof of what the Philippine capital markets can achieve when sustainability and innovation come together,” said Raffy S. Algarra, Jr., Head of the Financial Markets & Wealth Management Cluster at EastWest. “We are honored to support clients like Maynilad in accessing capital that delivers both financial value and long-term environmental impact.”

 

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Mr. Gerald Abrogar, EastWest Head of Investment Banking, receives the award on behalf of the Bank at the 2025 Asian Banking & Finance (ABF) Corporate & Investment Banking Awards in Singapore.

 

Pioneering Sustainable Finance in the Philippines

Blue Bonds are a growing category of thematic bonds designed to raise capital exclusively for sustainable water management and marine conservation efforts. In this case, proceeds will fund projects that advance efficient water and wastewater solutions aligned with the United Nations Sustainable Development Goals, particularly the goal of ensuring the availability and sustainable management of water and sanitation for all.

Strategic Role in Market Development

Beyond underwriting, EastWest played a key role in investor education and market development. As Maynilad’s debut in the public debt market, the issuance required a comprehensive campaign to engage both institutional and retail investors. EastWest leveraged its strong distribution capabilities and investor network to generate demand and build confidence in the offering.

By helping bring the first SEC-registered Blue Bond to market, EastWest strengthened its position in the sustainable finance space and reaffirmed its focus on solutions that align financial innovation with environmental and social objectives. The Bank’s work on this transaction reflects a deliberate approach to innovation, by seeking out new ways to connect sustainability with well-structured financial solutions.