BDO raises $300M from note issuance

BDO Unibank Inc. has raised $300 million from a fixed-rate, senior notes issuance that was three times oversubscribed.

"With demand coming primarily from Asian investors, the transaction was three times oversubscribed and is the lowest ever coupon for any US dollar bond for a Philippine issuer," the lender said in an emailed statement.

The issue was priced at 2.630 percent with a maturity of five years.

In an earlier disclosure, BDO said the issuance forms part of its Medium Term Note program representing direct and unsecured obligations of the bank.

"Proceeds of the senior notes are intended to be used by the Bank for general funding and re-lending purposes," it said.

Standard Chartered Bank and UBS were the joint lead managers for the notes. — Jon Viktor Cabuenas/VDS, GMA News