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Manila Bulletin devider Business devider BDO to raise P5 B from sustainability bonds

BDO to raise P5 B from sustainability bonds

Published Dec 20, 2021 03:40 pm

BDO Unibank Inc. is planning to raise P5 billion from the issuance of peso-denominated Fixed-Rate Sustainability Bonds as the third issuance of its P365-billion bond program.

In a disclosure to the Philippine Stock Exchange, the bank said “The net proceeds of the issue are intended to be used to diversify the bank’s funding sources, and finance or refinance eligible assets as defined in the bank’s Sustainable Finance Framework.”

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This is the first time that BDO will be issuing a peso-denominated Sustainability Bond to both institutional and retail investors.

The bank had previously issued a $150-million green bond in 2017, with the International Finance Corporation (IFC) as the sole investor.

The Securities and Exchange Commission (SEC) earlier confirmed the qualification of the issue as an ASEAN Sustainability Bond, having complied with requirements under the ASEAN Sustainability Bond Standards and the SEC ASEAN Sustainability Bond Circular.

The proposed issuance has an indicative tenor of two years and a minimum investment amount of P500,000, with additional increments of P100,000 thereafter.

The offer period will be from Jan. 10 to 21, 2022, while the issue, settlement, and listing date will be on Jan. 28, 2022.

BDO said it reserves the right to update the terms and the timing of the issuance as appropriate.

Standard Chartered Bank is the Sole Arranger of the proposed issuance, while BDO Unibank, Inc, BDO Private Bank, Inc., and Standard Chartered Bank are the Selling Agents of the proposed issuance.

BDO Capital & Investment Corporation is the Financial Advisor of the proposed issuance.

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