BDO to sell P5B debt notes
Sy-led BDO Unibank Inc. plans to raise at least P5 billion from the issuance of long-term negotiable certificates of deposit (LTNCD).
The notes are due in 5.5 years and carry an interest of 3.75 percent per annum.
BDO said the LTNCDs would be available to the public until Sept. 20.
Proceeds from the fund-raising program will be used to support the company’s expansion plans.
The country’s biggest bank tapped ING Bank Manila as sole arranger and selling agent, alongside BDO and BDO Private Bank.