BDO Unibank Inc., the country’s largest lender by assets, said Thursday it raised P55.7 billion in fresh funds from the sale of peso-denominated ASEAN Sustainability Bonds.
BDO said the offering was initially set at P5 billion but upsized due to overwhelming demand from both retail and institutional investors. The oversubscription rate exceeded 11 times and prompted the early closure of the offer period to 16 July.
The ASEAN Sustainability Bonds mature in one-and-a-half years and carry an annual coupon rate of 6.325 percent.
Net proceeds from the bond sale will finance or refinance eligible assets defined under BDO’s sustainable finance framework. This not only supports BDO’s commitment to sustainable development but also diversifies the bank’s funding sources.
ING Bank N.V., Manila Branch is the sole arranger and sustainability coordinator for the issuance. BDO Capital & Investment Corp. provided advisory services for the transaction.
The successful issuance of the ASEAN Sustainability Bonds underscores BDO’s strategic approach to capitalizing on robust market demand while advancing its sustainability goals in the financial sector.
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