BDO Lists PhP 40.1 Billion Fixed Rate Bonds on PDExPosted on: February 3, 2020
03 February 2020, Makati, Philippines — BDO Unibank, Inc. (BDO) lists PHP 40.1 billion 2.5-year Fixed Rate Bonds on the Philippine Dealing & Exchange Corp. (PDEx). The bonds were eight (8) times oversubscribed from the initial PHP 5 billion offer size and now the largest single bond issuance from the private sector.
“The veritable metrics of BDO’s investors trust and support are there, depth as evidenced by the level of oversubscription, eight (8) times, and breadth in distribution, establishing a record of 8,674 holders for a single issue (eclipsing the previous number of 7,645 holders), enough demand and number of investors to close down the offering period in one week,” said PDEx President & Chief Operating Officer (COO) Antonino A. Nakpil.
“We are also happy to note that this is officially the first bond issuance to have investors that have opted to use the available ‘Name on Central Depository’ or NoCD structure for their holdings. And because the NoCD structure streamlines the pre and post settlement processes for active investors, this bodes well for the potential secondary market liquidity of this bond issue,” he added.
On BDO’s part, Executive Vice President and Treasurer Dalmacio D. Martin remarked: “The issuance of PHP 40.1 billion is historic as it is the largest private sector, single tranche local currency bond in the Philippines. The feat was achieved within a selling period of 1 week.
We recognize and appreciate the trust that our investors place in our Bank; their faith in us inspires us to continue to find ways to better serve them and all our stakeholders.”
This second (2nd) issuance and listing for the year brings the year-to-date total of new listings to PHP 55.63 billion, and the total level of tradable corporate debt instruments to PHP 1.38 trillion, comprising 192 securities and issued by 52 companies.