BDO to redeem P10B in debt notes five years early

Banco de Oro  Unibank Inc. on Thursday said that it will exercise its option to redeem P10 billion worth of subordinated notes this November. The notes were issued in 21 November 2007 and were due 2017. However, they were callable this 2012. The optional redemption date is on November 21, 2012.

 

“All of the Series 1 Notes issued by BDO shall be redeemed in whole for cash at a redemption price equal to the face value of Series 1 Notes, plus accrued interest covering the accrued and unpaid interest as of but excluding 21 November 2012,” read BDO’s redemption notice. — DVM, GMA News