Personal Development, Finance and Investing For Filipinos
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On 6 July 2020, BDO Unibank, Inc. (BDO) announced its issuance of USD 600 million in Fixed Rate Senior Notes under the Bank’s Medium Term Note (“MTN”) Program.
The transaction was oversubscribed, with orders reaching USD 2.9 billion, equivalent to almost 5 times the offered amount.
The issue has a coupon rate of 2.125 per cent per annum and a tenor of 5 & 1/2 years. The bonds were rated “Baa2” by Moody’s.
The Senior Note issue is part of the Bank’s liability management initiatives to tap longer-term funding sources to support dollar-denominated projects.
Standard Chartered Bank acted as sole global coordinator, while Standard Chartered Bank and Merrill Lynch (Singapore) Pte. Ltd acted as joint bookrunners and joint lead managers for the transaction.
BDO is a full-service universal bank which provides a wide range of corporate and retail banking services. These services include traditional loan and deposit products, as well as treasury, trust and investments, investment banking, private banking, rural banking, cash management, leasing and finance, remittance, insurance, retail cash cards, credit card services and stock brokerage services.
BDO has one of the largest distribution networks, with more than 1,400 operating branches and over 4,400 ATMs nationwide. It also has full-service branches in Hong Kong and Singapore as well as 15 overseas remittance and representative offices in Asia, Europe, North America and the Middle East.
BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of March 31, 2020. For more information, please visit www.bdo.com.ph.
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ABOUT THE BLOGGER
Hi, I'm Ralph Gregore Masalihit!
An RFP Graduate (Registered Financial Planner Institute - Philippines).
A Personal Finance Advocate. An I.T. by Profession. An Investor. Business Minded. An Introvert. A Photography Enthusiast. A Travel and Personal Finance Blogger (Lakbay Diwa and Kuripot Pinoy).
Currently, I'm working my way toward time and financial freedom.