BDO issues P5-B fixed-rate bonds

BDO Unibank Inc. on Monday issued P5-billion worth of fixed-rate bonds as part of the company's efforts to diversify funding sources and support its lending sources.

The Sy-led lender said the issuance will have a tenor of 2.5 years, priced at 4.408 percent. The interest will be paid quarterly, calculated on a 30/360 count basis.

The offer period started on Monday, January 20, and will run until Friday, January 24, 2020, with a minimum investment of P100,000 with increments of P50,000.

The latest issuance is part of the P100-billion bond program approved by the Board in August 2018, and follows the P35-billion fixed-rate bond issuance in February last year.

BDO tapped the Hong Kong and Shanghai Banking Corporation Limited (HSBC) as the Sole Lead Arranger and bookrunner for the issue.

Meanwhile, BDO Unibank Inc., BDO Private Bank Inc., and HSBC serve as the selling agents for the offer.

Through its subsidiaries, BDO offers leasing and financing, investment banking, private banking, bancassurance, insurance brokerage, and stock brokerage services. — DVM, GMA News