BDO nets $500 million from oversubscribed offshore bond sale
MANILA, Philippines — BDO Unibank Inc., the country’s largest bank, raised $500 million from the sale of five-year fixed-rate senior notes to global investors as demand for the offering soared.
The transaction, under BDO’s Medium Term Note (MTN) program, was more than 3.2 times oversubscribed, with orders totaling around $1.6 billion.
The senior notes carry a 4.375% annual coupon rate, with settlement set for December 3. Moody’s is expected to assign a “Baa2” rating to the notes.
Proceeds from the bond issuance will support BDO’s lending operations and general corporate purposes.
According to BDO, Standard Chartered led the transaction as sole global coordinator, while MUFG, Wells Fargo Securities and Standard Chartered acted as joint bookrunners and lead managers.
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