Despite the offer period being shortened, BDO Unibank, Inc. raised P52.7 billion worth of peso-denominated Fixed-Rate Asean Sustainability Bonds under its P365 billion bond program.
The amount is more than 10 times the original offer of P5 billion and due to “very strong demand from retail and institutional investors.”
BDO said this is a new milestone for the bank as it exceeds its previous record of P40.1 billion for a single bond issuance, and by far the largest issuance for any Philippine financial institution or company.
This will also be the bank’s first issuance of peso-denominated Sustainability Bonds.
The bonds have a tenor of two years and a fixed rate of 2.90 percent per annum. Interest is payable quarterly, calculated on a 30/360 basis.
BDO said the net proceeds of the issue are intended to diversify the bank’s funding sources, and finance/refinance eligible assets under the bank’s Sustainable Finance Framework.
Standard Chartered Bank was the Sole Arranger, while BDO Unibank, Inc, BDO Private Bank, Inc., and Standard Chartered Bank were the Selling Agents of the issue. BDO Capital & Investment Corporation was the Financial Advisor of the issue. — Jimmy C. Calapati
