LAST month, the Securities and Exchange Commission (SEC), through SEC Memorandum Circular 9, Series of 2019, or the Guidelines on the Issuance of Social Bonds under the Asean Social Bonds Standards in the Philippines, successfully facilitated the issuance by ASA Philippines Foundation Inc. of gender bonds as social bonds, a historic issuance of the first-ever gender bonds in the Philippines. Asean is the Association of Southeast Asian Nations.

Asean Social Bonds are specific-purpose bonds where proceeds will be exclusively applied to finance or refinance, in full or in part, new and/or existing eligible social projects that comply with the Asean Bond Standards.