Saturday, March 17, 2018
  • share this

BDO completes P5-B fund-raising

/ 04:54 PM September 02, 2013

MANILA, Philippines–Banco de Oro Unibank has completed a P5-billion fund-raising from the offering of seven-year deposits at a coupon rate of 3.5 percent per annum.

In a disclosure to the Philippine Stock Exchange on Monday, BDO said its offering of long-term negotiable certificates of deposits (LTNCDs) ended on Aug. 30 and was “oversubscribed by a good mix of retail and institutional investors.”

LTNCDs are negotiable certificates of time deposit with a designated maturity or tenor representing a bank’s obligation to pay the face value upon maturity as well as make periodic coupon or interest payments during the life of the deposit. These deposits are covered with deposit insurance with the Philippine Deposit Insurance Corporation up to a maximum of P500,000 per depositor.


Interest on BDO’s LTNCDs will be paid quarterly and will be tax exempt for individual investors if held for at least five years. The issue date is set for September 12.

“The LTNCDs will support the bank’s growth objectives and help lengthen the maturity profile of its funding sources,” the bank said.

Standard Chartered Bank and ING Bank N.V. Manila Branch acted as joint lead arrangers, selling agents and market makers for the LTNCD, while BDO and BDO Private Bank were the other selling agents.

BDO is the country’s largest bank in terms of total assets, loans, deposits, capital and trust funds under management based on published statements of condition as of end-June.

Don't miss out on the latest news and information.
View comments

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Banking, Business, LTNCDs, News, offering of long-term negotiable certificates of deposits
For feedback, complaints, or inquiries, contact us.

13-year-old boy hurt in Quezon shooting

March 17, 2018 12:25 PM


Cavite buy-bust yields P2.5-M shabu

March 17, 2018 11:42 AM


PDEA nabs couple in anti-drug ops in Maguindanao

March 17, 2018 11:32 AM

© Copyright 1997-2018 | All Rights Reserved