BDO Unibank Inc. upsized its third Asean sustainability bond to P55.7 billion from an initial plan of raising P5 billion on strong investor interest.
The largest Philippine lender in terms of asset said the issuance was more than 11x oversubscribed, prompting the early closing of the offer period.
The latest Asean sustainability bonds have a tenor of one-and-a-half years and bear a coupon rate of 6.325 percent per annum.
The proceeds of the issuance will be used finance or refinance eligible assets as defined in the bank’s sustainable finance framework and diversify funding sources.
ING Bank N.V., Manila Branch was tapped to be the sole arranger and sustainability coordinator, while BDO Unibank and ING were the selling agents. BDO Capital & Investment Corp. served was a financial advisor.
In January, BDO raised P63.3 billion from its second Asean sustainability bonds, with the 1.5-year issuance sold at a coupon of 6.025 percent.
The first bonds meanwhile raised P52.7 billion for the lender, issued in January 2022.
