PDEx Welcomes 2022 with BDO Unibank, Inc.’s Listing of PHP 52.7 Billion Asean Sustainability BondsPosted on: January 28, 2022
28 January 2022, Makati, Philippines — BDO Unibank, Inc. (BDO) returns to the local debt market today for the listing of its PHP 52.7 Billion Series 3 Tranche 1 ASEAN Sustainability Bonds with an interest rate of 2.9000% per annum to be rewarded quarterly. This record-breaking listing was oversubscribed from the initial PHP 5 Billion offer size, beating the previous record of PHP 40.1 Billion, coincidentally also held by BDO.
Today’s listing ceremony began with PDEx President and CEO Antonino A. Nakpil delivering his welcome remarks. “Today’s issuance is a signal, a signal by the banking industry leader that it is marshalling its resources, fueling up if you will, to rev up the engines that will power economic recovery.”, said Mr. Nakpil.
The listing ceremony was also delighted with the presence of SEC Commissioner, Hon. Ephyro Luis B. Amatong. He remarked: “Today’s listing marks a true milestone in our debt capital markets being not only the first ESG issuance from a Philippine Corporate in 2022, not only the largest ESG out of the Philippines to date, but indeed the largest ever corporate fixed income issuance in the history of PDEx so far.”
“As disclosed by BDO, the net proceeds from these sustainability bonds will be used to finance or refinance eligible green and social projects in renewable energy, green buildings, clean transportation, resource efficiency and pollution prevention and control, environmentally sustainable management of living natural resources and land use, sustainable water and wastewater management, employment generation, and food security.”, added Hon. Amatong.
Hon. Amatong‘s remarks were followed shortly by a few words from Standard Chartered Bank CEO Lynette V. Ortiz. She said: “A remarkable way to kickstart the year, paving the path for further development of the sustainable finance landscape and the deepening of the Philippine capital markets. This certainly also sends a strong message that the country’s number 1 Bank has been and will continue to prioritize green, social and sustainable projects.”
BDO President and CEO Nestor V. Tan also expressed his appreciation for the outcome of this issuance. He said: “Let me say the most important thing about this issue, and that is: thank you and congratulations.”
“This issuance is a testament to BDO’s commitment to sustainability. And needless to say, it means that we have PHP 52.7 Billion more of funds that we can use to support sustainability assets and projects.”, Mr. Tan further expressed.
This 1st listing of PHP 52.7 Billion for 2022, brings the total level of tradable corporate debt instruments to PHP 1.33 Trillion issued by 53 companies, comprised of 189 securities.