BDO Unibank Inc. said Wednesday it shortened the offer period for its planned ASEAN sustainability bond issue amid strong demand from investors.
BDO said in a stock exchange filing the offer period closed on Jan. 16, a week ahead of the Jan. 22 original deadline.
“The offer was backed by strong demand from both retail and institutional investors, hence the decision to close the offer period a week earlier than the original schedule of January 22, 2024,” BDO said.
The bank did not disclose how much it raised from the bond offering, but it initially indicated that it planned to raise at least P5 billion from the offering.
The peso-denominated sustainability bonds have a coupon rate of 6.025 percent and mature in 1.5 years. The minimum investment amount is P500,000, with additional increments of P100,000 thereafter.
It said the bonds would be listed on the Philippine Dealing & Exchange Corp. on Jan. 29, 2024.
BDO said it would use the proceeds from the fund-raising activity to diversify its funding sources and finance and/or refinance eligible assets as defined in its Sustainable Finance Framework.
This is the second peso-denominated sustainability bond issued by BDO. It earlier raised P52.7 billion from its maiden offering, which was more than 10 times the original offer of P5 billion due to very strong demand from retail and institutional investors.
Standard Chartered Bank was the sole arranger for the latest transaction, while BDO and Standard Chartered Bank were the selling agents. BDO Capital & Investment Corp. served as the financial advisor.
