The Securities and Exchange Commission gave BDO Leasing and Finance Inc. the go-signal to raise P15 billion from the issuance of debt paper.
Documents filed with SEC showed that BDO Leasing would issue P15 billon in commercial paper and use the proceeds to finance maturing obligations and short-term notes as well as for re-lending.
BDO Leasing as of end August 2018 has P8.8 billion worth of maturing commercial paper and P5.4 billion worth of maturing promissory notes.
BDO Leasing is the leasing and financing entity of BDO Unibank Inc., which provides customers with direct leases, real estate leases, sale and leaseback arrangements as well as receivables factoring.
It also provides operating leases through its wholly-owned subsidiary BDO Rental Inc.
BDO Leasing is among the industry’s dominant players in terms of total assets, capitalization and profitability. It is 85.09-percent owned by BDO Unibank.