BDO raises P63.3B via sustainability bonds
BDO UNIBANK, Inc. (BDO) has raised P63.3 billion from its second offering of Association of Southeast Asian Nations (ASEAN) sustainability bonds.
The issue size was well above the original offer of P5 billion and higher than the P52.7 billion raised from BDO’s first offering of ASEAN sustainability bonds in January 2022, the lender said in a disclosure to the local bourse on Monday.
“The issuance was backed by strong demand from retail and institutional investors, with a rapid buildup in orders resulting in the shortening of the offer period by a week to Jan. 16, 2024,” BDO said.
The 1.5-year notes have a coupon rate of 6.025% per annum.
Proceeds from the issuance will be used to diversify BDO’s funding sources and finance or refinance assets eligible under the bank’s Sustainable Finance Framework.
Standard Chartered Bank was the sole arranger of the transaction. BDO and Standard Chartered Bank were also the selling agents, while BDO Capital & Investment Corp. was the financial adviser.
BDO’s net profit rose by 16.5% year on year to P18.7 billion in the third quarter of 2023 amid higher interest income and lower provisions.
Its shares rose by 0.07% or 10 centavos to close at P144.90 each on Monday. — AMCS
