BDO Unibank, Inc. Announces Third ASEAN Sustainability Bonds

BDO Unibank, Inc. (BDO) is set to issue Peso-Denominated Fixed-Rate Sustainability Bonds with a minimum aggregate issue size of P5 billion. This marks the bank’s third Peso-Denominated Sustainability Bond following a P52.7 billion issue in January 2022 and a P63.3 billion issue in January 2024.

The Securities and Exchange Commission (SEC) has confirmed that the proposed issuance complies with the requirements set forth under the ASEAN Sustainability Bond Standards and the SEC ASEAN Sustainability Bond Circular.

The proposed issuance will have a tenor of one-and-a-half (1.5) years and a coupon rate of 6.325% per annum. The minimum investment amount is P500,000, with additional increments of P100,000 thereafter. The offer period will run from July 8 to 19, 2024, while the issue, settlement, and listing date will be on July 24, 2024.

The net proceeds of the proposed issuance will be used to finance and/or refinance eligible assets as defined in the Bank’s Sustainable Finance Framework and diversify the Bank’s funding sources.

BDO reserves the right to amend the terms and the timing of the issuance as it deems necessary.

ING Bank N.V., Manila Branch (“ING”) is the Sole Arranger of the proposed issuance, with BDO Unibank, Inc. and ING as the Selling Agents and BDO Capital & Investment Corporation as the Financial Advisor.

BDO is a full-service universal bank which provides a wide range of corporate and retail services such as loan and deposit products, treasury, trust banking, investment banking, private banking, rural banking and microfinance, cash management, leasing and finance, remittance, life insurance, property & casualty insurance brokerage, cash cards, credit cards, and online and non-online stock brokerage services.

BDO has the country’s largest distribution network, with over 1,700 consolidated operating branches and more than 5,500 teller machines nationwide. It also has 16 international offices (including full-service branches in Hong Kong and Singapore) in Asia, Europe, North America and the Middle East.

The Bank also offers digital banking solutions to make banking easier, faster, and more secure for its clients.

BDO ranked as the largest bank in terms of total assets, loans, deposits and trust funds under management based on published statements of condition as of March 31, 2024.