The Securities and Exchange Commission en banc has given BDO Leasing and Finance Inc. the go-signal to raise P15 billion in fresh funds from the sale of debt paper.
Documents from the SEC showed BDO Leasing was issuing P15 billion worth of commercial paper, which it would use for re-lending and other expenses.
BDO Capital & Investment Corp. was tapped as the exclusive selling agent of the proposed issuance.
BDO Leasing is 85.09 percent owned by BDO Unibank Inc., the country’s biggest bank in terms of assets, and 1.11 percent held by BDO Capital. Both BDO Leasing and BDO Capital are subsidiaries of BDO Unibank.
Philippine Rating Services Corp. earlier assigned a PRS Aa issuer credit rating on BDO Leasing
A company rated PRS Aa differs from the highest-rated corporates only to a small degree, and has a strong capacity to meet its financial commitments relative to that of other companies.