BDO Listed PHP 6.5 Billion LTNCTDs on PDExPosted on: September 27, 2019
27 September 2019, Makati Philippines — BDO Unibank Inc. (BDO) listed PHP 6.5 billion Long-Term Negotiable Certificates of Time Deposit (LTNCTDs) on Philippine Dealing & Exchange Corp. (PDEx), paying 4 percent on quarterly payments for a 5.5 year tenor ending in 2025. The proceeds of this will be used to diversify the Bank’s funding, and support its expansion.
BDO has been active in PDEx this year; and holds the record for listing the biggest issue amount for a single security — it’s February 2019 PHP 35 billion bonds. “Today’s issue, which while more modest than the February bond is nonetheless oversubscribed by 30% from the original PHP 5 Billion amount — is a concrete testament to its client investor’s faith,” said PDEx President & COO Antonino Nakpil.
On BDO’s part, Executive Vice President & Treasurer Dalmacio Martin remarked: “We would like to thank our clients and the investing public for their continued confidence and support in BDO. Without them we wouldn’t be where we are.”
This 24th issuance and listing on PDEx pushed the outstanding amount of bank issues listed to PHP 442.91 billion and brings the total tradeable corporate debt instruments to PHP 1.22 trillion, comprising 181 securities and issued by 48 companies.