BDO Unibank Inc. said Tuesday it raised a record P115 billion from its latest ASEAN Sustainability Bond offering, exceeding its original target of P5 billion.
The offer was oversubscribed by 23 times on strong participation from both retail and institutional investors, BDO said in a disclosure to the stock exchange.
The bonds have a tenor of 1.5 years and carry a fixed interest rate of 5.875 percent per annum.
BDO said it would use the proceeds from the bond sale to finance or refinance eligible assets under the bank’s Sustainable Finance Framework, support its lending activities and diversify funding sources.
ING Bank N.V., Manila Branch served as the sole arranger and sustainability coordinator for the transaction. BDO and ING acted as selling agents, while BDO Capital & Investment Corp. was the financial advisor.
