BDO Unibank Inc. successfully raised P63.3 billion in its second Asean Sustainability Bond issue, exceeding the original offer of P5 billion by more than 12 times.
The issuance was backed by strong demand from retail and institutional investors, with a rapid build-up in orders resulting in the shortening of the offer period by a week to Jan. 16, 2024.
This marks the bank’s largest single issuance, surpassing its first Asean Sustainability Bonds issue in January 2022 amounting to P52.7 billion.
The Peso-denominated Sustainability bonds bear a coupon rate of 6.025 percent and are due in 1.5 years. The issue, settlement, and listing date is on Jan. 29, 2024.
The net proceeds of the issuance are intended to diversify the Bank’s funding sources, and finance/refinance eligible assets as defined in the Bank’s Sustainable Finance Framework.