BDO starts P5-B ASEAN bond offering

Published January 10, 2022, 3:02 PM

by James A. Loyola

BDO Unibank, Inc. has kicked off of its public offering of P5 billion worth of Peso-denominated Fixed-Rate ASEAN Sustainability Bonds as the third issuance under its P365 billion Bond Programme.

In a statement, the bank said “The net proceeds of the issue are intended to diversify the Bank’s funding sources, and finance/refinance eligible assets under the Bank’s Sustainable Finance Framework.”

The bonds have a tenor of two years and a fixed rate of 2.90 p ercent per annum. Interest is payable quarterly, calculated on a 30/360 basis. The minimum investment amount is P500,000 with increments of P100,000.

The offer period will run from January 10 to January 21, 2022, while the issue, settlement, and listing date is set for January 28, 2022. However, the Bank reserves the right to adjust the timing of the offer (as appropriate).

Standard Chartered Bank is the Sole Arranger, while BDO Unibank, Inc, BDO Private Bank, Inc., and Standard Chartered Bank are the Selling Agents of the proposed issue. BDO Capital & Investment Corporation is the Financial Advisor of the proposed issue.