BDO to issue P5 billion in fixed bonds

ABS-CBN News

Posted at Jan 20 2020 11:37 AM | Updated as of Jan 20 2020 01:15 PM

MANILA – (UPDATE) BDO Unibank said Monday it would issue P5 billion in fixed bonds to diversify funding sources as it grows lending activities.

The minimum investment is set at P100,000 with increments of P50,000 and will have a tenor of 2.5 years priced at 4.408 percent, the country’s biggest bank in terms of assets told the stock exchange.

Interest will be paid quarterly, BDO said.

Offer period will run from Jan. 20 to Jan. 24 with the issue date targeted for Feb. 3, BDO said.

The bond issuance is part of the P100 billion program approved by the BDO Board in August 2018, the bank said.

The sole lead arranger and bookrunner for the issue is HSBC while BDO Unibank, BDO Private Bank and HSBC will be the selling agents, the statement said.