BDO issues P36-B fixed-rate bonds
BDO Unibank Inc. (BDO) on Friday issued P36 billion worth of fixed rate bonds, which is part of the company's efforts to diversify funding sources and support its lending sources.
In a disclosure to the Philippine Stock Exchange, the Sy-led lender said the issuance is seven times bigger than the original offer of P5 billion due to robust demand from individual and institutional investors.
The bonds have a tenor of 1.75 years and a coupon rate of 3.125% per annum.
The interest will be paid quarterly, calculated on a 30/360 count basis.
The offer period started on June 15, 2020 and ended on June 26, 2020.
The bonds were exclusively offered through BDO Trust & Investments Group and BDO Private Bank Trust.
“The latest bond issuance is part of BDO’s continuing efforts to diversify its funding sources and support its lending activities,” the bank said.
BDO tapped Standard Chartered Bank as the sole lead arranger and market maker for the issue.
Meanwhile, BDO and its unit BDO Private Bank Inc. served the selling agents. — Ted Cordero/RSJ, GMA News