BDO Unibank, Inc (BDO) successfully raised P40.1 billion of fixed rate bonds, or eight times the original offer of P5.0 billion on robust demand from retail and institutional investors.
The one-week offer period ended last January 24, 2020, with issue date set today.
The bonds will have a tenor of 2.5 years with a yield of 4.408 per cent per annum.
Interest will be paid quarterly, calculated on a 30/360 count basis.
The bond issuance is part of BDO’s continuing efforts to diversify its funding sources and support its lending activities, and follows the P35 billion of fixed rate bonds issued in February last year.
The Hong Kong and Shanghai Banking Corporation Limited was the Sole Lead Arranger for the issue, while BDO Unibank, Inc., BDO Private Bank, Inc., and HSBC were the Selling Agents.
BDO is ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of September 30, 2019.
It is a full-service universal bank which provides a wide range of corporate and retail banking services.
These services include traditional loan and deposit products, as well as treasury, trust and investments, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards, credit card services and stock brokerage services.
BDO has one of the largest distribution networks, with more than 1,400 operating branches and over 4,400 ATMs nationwide.
It also has full-service branches in Hong Kong and Singapore as well as 20 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.