Thursday, August 18, 2022

BDO Raises PHP52.7 Billion In ASEAN Sustainability Bonds

BDO Raises PHP52.7 Billion In ASEAN Sustainability Bonds

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BDO Unibank, Inc. (the “Bank”) successfully raised PHP52.7 billion worth of Peso-denominated Fixed-Rate ASEAN Sustainability Bonds under its PHP365 billion Bond Programme, more than 10 times the original offer of PHP5 billion on very strong demand from retail and institutional investors. This was achieved despite the offer period being shortened from January 21, 2022 to January 19, 2022. This is a new milestone for the Bank as it exceeds its previous record of PHP40.1 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 issue, settlement, and listing date is set for January 28, 2022.

The bonds have a tenor of two (2) years and a fixed rate of 2.90% per annum. Interest is payable quarterly, calculated on a 30/360 basis. 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. 

About BDO

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 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 1,500 operating branches and over 4,400 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 14 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.

BDO ranked as the largest bank in terms of total resources, customer loans, deposits, capital and trust assets based on published statements of condition as of 30 September 2021. For more information, please visit www.bdo.com.ph.

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