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Manila Bulletin devider Business devider Banking & Finance devider BDO returns to debt market with sixth ASEAN sustainability bonds

BDO returns to debt market with sixth ASEAN sustainability bonds

Published Jul 9, 2026 08:35 am
Nestor V. Tan, President and CEO of BDO Unibank, Inc.
Nestor V. Tan, President and CEO of BDO Unibank, Inc.

Sy-led BDO Unibank Inc., the Philippines’ biggest bank, is planning to raise at least ₱5 billion from the issuance of peso-denominated fixed-rate sustainability bonds to diversify its funding sources.

This marks the bank’s second sustainability bond this year following a ₱100-billion issue in January. BDO has raised a total of ₱386.7 billion in sustainability bonds through five issuances since January 2022.

The Securities and Exchange Commission (SEC) has confirmed that the proposed issuance complies with the requirements set forth under the Association of Southeast Asian Nations (ASEAN) sustainability bond standards and the SEC’s ASEAN sustainability bond circular.

The proposed issuance will have a tenor of 1.5 years and a coupon rate of 6.26 percent per annum. The minimum investment amount is ₱500,000, with additional increments in multiples of ₱100,000 thereafter.

The offer period will run from July 9 to 21, 2026, while the issue, settlement, and listing date will be on July 28.

The net proceeds of the proposed issuance will be used to finance or refinance eligible assets as defined in BDO’s sustainable finance framework, support the bank’s lending activities, and diversify its funding sources.

ING Bank N.V. Manila Branch is the sole arranger and sustainability coordinator of the proposed issuance, with BDO and ING as selling agents and BDO Capital & Investment Corp. (BDO Capital) as financial advisor.

Last January, BDO raised ₱100 billion from its fifth peso-denominated ASEAN sustainability bond issue, which was 20 times oversubscribed from the original ₱5-billion offering.

“This issuance saw robust participation from retail and institutional investors, prompting the early close of the offer period on Jan. 16, 2026,” said the bank. The bonds have a tenor of three years and a coupon rate of 5.7125 percent a year.

Standard Chartered Bank (SCB) was the sole arranger of this issuance, with BDO and SCB as selling agents and BDO Capital as financial advisor.

BDO has consistently raised several times the minimum amount of ₱5 billion in its previous issuances, which had shortened offering periods due to oversubscription.

In July last year, BDO raised ₱115 billion for its fourth peso-denominated ASEAN sustainability bond issue, 23 times oversubscribed against the original offer of ₱5 billion. - James A. Loyola

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