BDO doubles long-term deposit issue size to P11.8B | ABS-CBN
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BDO doubles long-term deposit issue size to P11.8B
BDO doubles long-term deposit issue size to P11.8B
ABS-CBN News
Published Aug 11, 2017 12:34 PM PHT
MANILA - BDO Unibank, the country's largest lender, said Friday it more than doubled the size of its long-term negotiable certificates of deposit issue to P11.8 billion due to strong demand.
MANILA - BDO Unibank, the country's largest lender, said Friday it more than doubled the size of its long-term negotiable certificates of deposit issue to P11.8 billion due to strong demand.
The instrument, the largest single issuance of its kind by a local bank, has a term of 5 and 1/2 years with interest set at 3.625 percent per annum, BDO said.
The instrument, the largest single issuance of its kind by a local bank, has a term of 5 and 1/2 years with interest set at 3.625 percent per annum, BDO said.
The initial P5-billion offer was oversubscribed, the bank said.
The initial P5-billion offer was oversubscribed, the bank said.
Interest income is tax exempt for individual investors if held for at least 5 years, interest will be paid quarterly and deposit insurance coverage is set at a maximum P500,000 per depositor.
Interest income is tax exempt for individual investors if held for at least 5 years, interest will be paid quarterly and deposit insurance coverage is set at a maximum P500,000 per depositor.
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BDO shares were down 0.23 percent to P129.70 on Friday.
BDO shares were down 0.23 percent to P129.70 on Friday.
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