BDO Unibank, Inc. has announced that it raised PHP63.3 billion in its second ASEAN Sustainability Bond issue, exceeding the original offer of PHP5 billion by more than 12 times.
BDO noted that this is its largest single issuance. I Photo: BDO Unibank
In its disclosure to the Philippine Stock Exchange (PSE), BDO noted that this is its largest single issuance. It surpassed its first ASEAN Sustainability Bonds issue in January 2022, which amounted to PHP52.7 billion, the bank highlighted.
"The issuance was backed by strong demand from retail and institutional investors, with a rapid build-up in orders resulting in the shortening of the offer period by a week to January 16, 2024," BDO Unibank said.
The peso-denominated bonds bear a coupon rate of 6.025 percent and are due in 1.5 years.
The issue, settlement, and listing date is on Jan. 29, 2024. BDO said the net proceeds of the issuance will be used to diversify the bank's funding sources and finance or refinance eligible assets as defined in the bank’s Sustainable Finance Framework.
It bared that the issue’s Sole Arranger was Standard Chartered Bank, while BDO Unibank, Inc. and Standard Chartered Bank were the Selling Agents, and BDO Capital & Investment Corporation was the Financial Advisor.