BDO raises $500M from oversubscribed bond sale

BDO Unibank Inc., the Philippines' largest bank, successfully raised $500 million through an oversubscribed sale of five-year fixed-rate senior notes to global investors.

The offering, part of BDO's Medium Term Note (MTN) program, attracted demand exceeding $1.6 billion, making it over 3.2 times oversubscribed.

The senior notes are set to mature in five years and will carry an annual coupon rate of 4.375%, with settlement scheduled for December 3.

Moody's is anticipated to assign a 'Baa2' rating to these notes, indicating a stable investment grade.

The funds generated from this bond issuance will be utilized to bolster BDO's lending operations and general corporate needs.

Standard Chartered served as the sole global coordinator for this transaction, with MUFG, Wells Fargo Securities, and Standard Chartered also acting as joint bookrunners and lead managers.