BDO Unibank Inc. (BDO) has announced an issuance of P5 billion worth of fixed rate bonds, which is a component of the P100 billion bond program approved by the board of BDO in August 2018.

This follows the P35 billion fixed rate bond issuance in February 2019, and is part of the bank’s continuing efforts to diversify its funding sources and support its lending activities.

The bonds will have a tenor of 2.5 years and will be priced at 4.408 per cent.

Interest will be paid quarterly, calculated on a 30/360 count basis. The minimum investment is P100,000 with increments of P50,000.

The offer period will run from Jan. 20, 2020 up to Jan. 24, 2020, with the issue date targeted for Feb. 3, 2020. However, the bank reserves the right to adjust the timing of the offer as needed.

The Hong Kong and Shanghai Banking Corp. Limited (HSBC) is the sole lead arranger and bookrunner for the issue, while BDO Unibank Inc., BDO Private Bank Inc. and HSBC are the selling agents. (PR)