BDO Unibank Inc. closed the offer period for its latest peso-denominated ASEAN Sustainability Bonds five business days early, citing robust investor appetite as the main driver behind the move.
Initially scheduled to run until 22 July, the offering was cut short on 14 July after the bank received strong take-up from both institutional and retail investors.
The bonds carry a 1.5-year tenor and offer a fixed rate of 5.875 percent per annum. Issuance, settlement, and listing are all scheduled for 29 July.
Environment and social initiatives
Funds raised from the issuance will be channeled into projects aligned with BDO’s Sustainable Finance Framework, which supports environmental and social initiatives. The bank said the move also contributes to diversifying its funding sources and bolstering its sustainable lending activities.
Bank’s financial strength
Industry observers note that BDO’s ability to raise funds ahead of schedule highlights market confidence in the bank’s financial strength and sustainability agenda.
With more than 1,700 operating branches and over 5,500 ATMs nationwide, BDO holds the largest distribution network in the country. It also operates 14 international offices, including full-service branches in Hong Kong and Singapore.
ING Bank N.V. Manila Branch served as sole arranger and sustainability coordinator. Both BDO and ING acted as selling agents, while BDO Capital & Investment Corp. took the role of financial advisor.