STATE-owned Development Bank of the Philippines (DBP) is targeting to raise a minimum of P5 billion from its second issuance of peso-denominated bonds from its P50-billion bond program, which is aimed at financing development projects in priority sectors, a top official said.

DBP President and Chief Executive Officer Emmanuel Herbosa said the bonds, which will have a tenor of two years, will be offered to the public from Nov. 24 to Dec. 4, 2020 and will have an interest rate of 2.5 percent; subject to adjustments of the offer period.