ADVERTISEMENT
Manila Bulletin devider Business devider Banking & Finance devider NHMFC wraps ₱1.3-billion securitization offering, gets very strong credit rating from PhilRatings

NHMFC wraps ₱1.3-billion securitization offering, gets very strong credit rating from PhilRatings

Published Sep 25, 2025 09:44 am
NHMFC successfully wrapped its 7th securitization offering valued at Php1.3 billion dubbed as NHMFC Bonds 2024. The Philippine Rating Services Corp. (PhilRatings) assigned a very strong credit rating for this bond issuance. Present during the signing of transaction documents are the key players of the issuance. (L-R) Landbank of the Philippines Senior Vice President Gonzalo Benjamin Bongolan, NHMFC President Renato L. Tobias, Development Bank of the Philippines Vice President Camilo Sanchez and Philippine National Bank Senior Vice-President Joy Jasmin R. Santos.
NHMFC successfully wrapped its 7th securitization offering valued at Php1.3 billion dubbed as NHMFC Bonds 2024. The Philippine Rating Services Corp. (PhilRatings) assigned a very strong credit rating for this bond issuance. Present during the signing of transaction documents are the key players of the issuance. (L-R) Landbank of the Philippines Senior Vice President Gonzalo Benjamin Bongolan, NHMFC President Renato L. Tobias, Development Bank of the Philippines Vice President Camilo Sanchez and Philippine National Bank Senior Vice-President Joy Jasmin R. Santos.
The National Home Mortgage Finance Corp. (NHMFC) successfully concluded its 7th securitization offering called NHMFC Bonds 2024 worth ₱1.3 billion, with a very strong credit rating from the Philippine Rating Services Corp. (PhilRatings).
PhilRatings has assigned a Final Issue Credit Rating of PRS Aa minus to the ₱1.0 billion Class A Senior Notes with a coupon rate of 4.9654% and PRS Baa to the ₱300.3 million Class B Subordinated Notes. The Outlook for both ratings is stable.
Obligations rated PRS Aa are of high quality and are subject to very low credit risk while obligations rated PRS Baa exhibit adequate protection parameters. On the other hand, a Stable Outlook indicates that the rating is likely to be maintained or to remain unchanged in the next twelve months.
The NHMFC Bonds 2024 is a landmark achievement as this is the corporation’s second-largest bond issuance so far. Backed by 1,658 long-term, low-delinquency residential loans, this bond underscores NHMFC’s continuing efforts to boost the country’s housing sector.
In his message during the signing ceremony held on Monday (September 15, 2025), NHMFC President Renato L. Tobias stressed that the corporation’s bond issuances help turn into reality the Filipino families’ aspirations for secure and sustainable homes. “More than a financial instrument, the NHMFC Bonds symbolize our collective commitment to making homeownership more accessible and affordable for many Filipinos across the nation,” President Tobias said.
In addition, NHMFC Acting Executive Vice President Maria Luisa M. Favila emphasized that while securitization has yet to gain full acceptance in the capital market, the international market has begun to take notice of NHMFC with the help of improved sovereign rating outlook.
“The corporation will continue to strive to have a new pool of investors and pool of assets and issue different financial instruments to help in the funding requirements for housing,” EVP Luisa stressed.
NHMFC’s key partners for this transaction were Development Bank of the Philippines as the special purpose trust administrator, Landbank of the Philippines as the arranger and underwriter, MOSVELDTT Law Offices as the transaction counsel and tax advisor, Philippine National Bank as the trustee, registrar and paying agent, Philippine Rating Services Corporation as the credit rating agency, and MOORE Roxas Tabamo and Co. as the portfolio auditor.

Related Tags

National Home Mortgage Finance Corporation
ADVERTISEMENT
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1561_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1562_widget.title }}

{{ item.title }}
.most-popular .layout-ratio{ padding-bottom: 79.13%; } @media (min-width: 768px) and (max-width: 1024px) { .widget-title { font-size: 15px !important; } }

{{ articles_filter_1563_widget.title }}

{{ item.title }}

{{ articles_filter_1564_widget.title }}

{{ item.title }}
.mb-article-details { position: relative; } .mb-article-details .article-body-preview, .mb-article-details .article-body-summary{ font-size: 17px; line-height: 30px; font-family: "Libre Caslon Text", serif; color: #000; } .mb-article-details .article-body-preview iframe , .mb-article-details .article-body-summary iframe{ width: 100%; margin: auto; } .read-more-background { background: linear-gradient(180deg, color(display-p3 1.000 1.000 1.000 / 0) 13.75%, color(display-p3 1.000 1.000 1.000 / 0.8) 30.79%, color(display-p3 1.000 1.000 1.000) 72.5%); position: absolute; height: 200px; width: 100%; bottom: 0; display: flex; justify-content: center; align-items: center; padding: 0; } .read-more-background a{ color: #000; } .read-more-btn { padding: 17px 45px; font-family: Inter; font-weight: 700; font-size: 18px; line-height: 16px; text-align: center; vertical-align: middle; border: 1px solid black; background-color: white; } .hidden { display: none; }
function initializeAllSwipers() { // Get all hidden inputs with cms_article_id document.querySelectorAll('[id^="cms_article_id_"]').forEach(function (input) { const cmsArticleId = input.value; const articleSelector = '#article-' + cmsArticleId + ' .body_images'; const swiperElement = document.querySelector(articleSelector); if (swiperElement && !swiperElement.classList.contains('swiper-initialized')) { new Swiper(articleSelector, { loop: true, pagination: false, navigation: { nextEl: '#article-' + cmsArticleId + ' .swiper-button-next', prevEl: '#article-' + cmsArticleId + ' .swiper-button-prev', }, }); } }); } setTimeout(initializeAllSwipers, 3000); const intersectionObserver = new IntersectionObserver( (entries) => { entries.forEach((entry) => { if (entry.isIntersecting) { const newUrl = entry.target.getAttribute("data-url"); if (newUrl) { history.pushState(null, null, newUrl); let article = entry.target; // Extract metadata const author = article.querySelector('.author-section').textContent.replace('By', '').trim(); const section = article.querySelector('.section-info ').textContent.replace(' ', ' '); const title = article.querySelector('.article-title h1').textContent; // Parse URL for Chartbeat path format const parsedUrl = new URL(newUrl, window.location.origin); const cleanUrl = parsedUrl.host + parsedUrl.pathname; // Update Chartbeat configuration if (typeof window._sf_async_config !== 'undefined') { window._sf_async_config.path = cleanUrl; window._sf_async_config.sections = section; window._sf_async_config.authors = author; } // Track virtual page view with Chartbeat if (typeof pSUPERFLY !== 'undefined' && typeof pSUPERFLY.virtualPage === 'function') { try { pSUPERFLY.virtualPage({ path: cleanUrl, title: title, sections: section, authors: author }); } catch (error) { console.error('ping error', error); } } // Optional: Update document title if (title && title !== document.title) { document.title = title; } } } }); }, { threshold: 0.1 } ); function showArticleBody(button) { const article = button.closest("article"); const summary = article.querySelector(".article-body-summary"); const body = article.querySelector(".article-body-preview"); const readMoreSection = article.querySelector(".read-more-background"); // Hide summary and read-more section summary.style.display = "none"; readMoreSection.style.display = "none"; // Show the full article body body.classList.remove("hidden"); } document.addEventListener("DOMContentLoaded", () => { let loadCount = 0; // Track how many times articles are loaded const offset = [1, 2, 3, 4, 5, 6, 7, 8, 9, 10]; // Offset values const currentUrl = window.location.pathname.substring(1); let isLoading = false; // Prevent multiple calls if (!currentUrl) { console.log("Current URL is invalid."); return; } const sentinel = document.getElementById("load-more-sentinel"); if (!sentinel) { console.log("Sentinel element not found."); return; } function isSentinelVisible() { const rect = sentinel.getBoundingClientRect(); return ( rect.top < window.innerHeight && rect.bottom >= 0 ); } function onScroll() { if (isLoading) return; if (isSentinelVisible()) { if (loadCount >= offset.length) { console.log("Maximum load attempts reached."); window.removeEventListener("scroll", onScroll); return; } isLoading = true; const currentOffset = offset[loadCount]; window.loadMoreItems().then(() => { let article = document.querySelector('#widget_1690 > div:nth-last-of-type(2) article'); intersectionObserver.observe(article) loadCount++; }).catch(error => { console.error("Error loading more items:", error); }).finally(() => { isLoading = false; }); } } window.addEventListener("scroll", onScroll); });
Join Our Newsletters

Sign up by email to receive news.

© 2025 Manila Bulletin The Nation's Leading Newspaper. All Rights Reserved.