BDO issues P6.5B in tier 2 capital

MANILA, Philippines — Banco de Oro Unibank Inc. successfully sold P6.5 billion-worth of tier 2 notes over the weekend as the country’s leading lender strengthens its capital base to support expansion.

The notes, which have a maturity of 10 years and three months from issuance, were priced lower at 6.375 percent per annum than the P8.5 billion in tier 2 capital the company issue last June. This latest issuance completes the company’s P15-billion tier 2 program as approved by the central bank.

Deutsche Bank AG, Manila Branch and HSBC Ltd. acted as joint lead arrangers and selling agents for the transaction. Standard Chartered Bank, BDO Private Bank, Inc. and Multinational Investment Bancorporation also acted as selling agents for the issue.