The National Home Mortgage Finance Corporation (NHMFC) linked private capital market and the housing sector with its sixth securitization bond issuance called NHMFC Bonds 2023 worth Php533 million.
At the ceremonial and signing ceremony held on Wednesday, Department of Human Settlements and Urban Development (DHSUD) Secretary Jose Rizalino Acuzar lauded NHMFC’s securitization offering, saying this concretizes the government’s plans toward achieving the Pambansang Pabahay Para sa Pilipino Program (4PH) to provide decent and affordable shelters in well-planned communities for every Filipino family. He highlighted the big role of the National Home Mortgage in strategizing on the development and operation of the secondary mortgage.
“The corporation has remained true to its mandate of increasing the availability of affordable housing loans to Filipino homebuyers,” he said.
The issuance was offered in two classes and is backed by quality affordable housing loan receivables, buffed with credit enhancements to ensure protection of investors. It is a 5-year mortgage-backed security with a coupon of 6.329% p.a. and with stable rating of PRS A+.
“I couldn’t be any prouder of NHMFC’s accomplishments under the leadership of President Renato L. Tobias. The corporation has remained true to its mandate of increasing the availability of affordable housing loans to Filipino homebuyers,“ the housing chief stressed.
The issuance supports the government’s goal of providing accessible housing to more Filipino families as it also contributes to inclusive and sustainable development of the Philippines. NHMFC partnered with the Land Bank of the Philippines – Investment Banking Group together with the Development Bank of the Philippines – Trust Banking Group as the special purpose trust administrator; Philippine National Bank – Trust Banking Group, as the trustee, registrar, and paying agent; and MOSVELDTT Law Offices as the transaction counsel and tax advisor.
The success of NHMFC Bonds 2023 signals a promising future for affordable housing initiatives, driving positive change and progress across the nation.