BAGUIO CITY – BDO Unibank, Inc. (BDO) announced its issuance of USD 300 million in Fixed Rate Senior Notes under the Bank’s Medium Term Note (MTN) Program.
The Senior Note issue is part of the Bank’s liability management initiatives to tap longer-term funding sources to support dollar-denominated projects and effectively refinance outstanding bonds worth USD 300 million maturing in February next year.
The issue was priced at 2.630% with a maturity of five (5) years. The bonds were rated Baa2 by Moody’s. With demand coming primarily from Asian investors, the transaction was three times oversubscribed and is the lowest ever coupon for any USD bond for a Philippine issuer.
Standard Chartered Bank and UBS AG acted as joint lead arrangers for the transaction.
BDO 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 banking, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards and credit card services.
BDO has one of the largest distribution networks, with more than 1,000 operating branches and over 3,000 ATMs nationwide. It also has a branch in Hong Kong as well as 25 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.
BDO 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 June 30, 2016. For more information, please visit www.bdo.com.ph.
ByHENT
