MANILA, Philippines - Banco De Oro Unibank Inc. (BDO) successfully issued P6.5 billion worth peso-denominated unsecured subordinated notes qualifying as Tier 2 capital (T2).
BDO upsized the issue from the original P3 billion offer size and shortened the offering period due to oversubscription from retail and institutional investors.
The T2 notes were priced at 6.375 percent p.a. and will have a maturity of 10 years and three months from issue date, with a call option exercisable by the Bank after five years and one (1) day, subject to prior BSP approval.
This is BDO’s second successful issuance of T2 Notes in 2011, completing the bank’s P15 billion T2 program approved by the Bangko Sentral ng Pilipinas (BSP). The T2 notes will supplement the Bank’s capital position and support its business expansion plans.
Deutsche Bank AG, Manila Branch, and The Hong Kong and Shanghai Banking Corp. Ltd. acted as Joint Lead Arrangers and Selling Agents for the transaction. Standard Chartered Bank, BDP Private Bank Inc. and Multinational Investment Banc also acted as selling agents for the issue.