BDO Unibank Inc. (BDO) the country’s largest bank, announced it raised US$500 million from the offshore sale of five-year fixed-rate senior notes.
The Bank said in its announcement that the transaction under the Bank’s Medium Term Note (“MTN”) Program. was more than 3.2 times oversubscribed, with orders reaching approximately US$1.6 billion.
The Fixed Rate Senior Notes (“Senior Notes”) will have a coupon rate of 4.375% per cent per annum.
These are expected to be rated “Baa2” (moderate credit risk for a financial obligation) by Moody’s (moderate credit risk for a financial obligation).
Settlement is expected on December 3, 2025.
The Senior Notes issue is part of BDO’s liability management initiatives to tap longer term funding sources to support BDO’s lending operations and for general corporate purposes.
BDO said that Standard Chartered Bank acted as sole global coordinator, while Standard Chartered Bank, MUFG, and Wells Fargo Securities acted as joint bookrunners and joint lead managers for the transaction.