BDO raises $500 million from offshore bond offer

BDO UNIBANK, Inc. has raised $500 million from its sale of five-year dollar-denominated bonds that marked its return to the offshore debt market after over three years, it said on Wednesday.

The offering was more than 3.2 times oversubscribed, with tenders reaching $1.6 billion following a series of investor calls that started on Monday, the Sy-led bank said in a disclosure to the stock exchange.

The notes were priced at a coupon rate of 4.375%.

The transaction is scheduled to be settled on Dec. 3.

BDO’s attributable net income rose 6.1% year on year to P22.47 billion in the third quarter, bringing its nine-month profit to P63.09 billion, 4.07% higher than a year earlier. — Aaron Michael C. Sy