BDO raises P115B from ‘green’ bonds

Strong lending boosted BDO’s net income in the first half

MANILA, Philippines – BDO Unibank Inc. saw strong demand for its latest sustainability bonds, raising a total of P115 billion, or 23 times its initial target of P5 billion.

In a stock exchange filing on Tuesday, the Sy family-led bank said it garnered “robust participation” from both retail and institutional investors, resulting in an oversubscribed offering.

READ: BDO launches P5-B ‘green’ bonds at 5.875%

The Asean sustainability bonds have a tenor of 1.5 years and carry a yield of 5.875 percent a year.

Proceeds will be used to fund eligible projects under BDO’s Sustainable Finance Framework, including those related to renewable energy and pollution prevention.