By Marisa Wong
Los Angeles, July 7 – Philippines’ BDO Unibank, Inc. said it issued $600 million of 5˝-year senior notes with a coupon of 2 1/8%.
The benchmark-sized dollar-denominated senior fixed-rate notes (expected: Baa2) were talked at Treasuries plus 235 basis points area, as previously announced.
The transaction was almost five times oversubscribed, with orders reaching $2.9 billion, according to a Tuesday press release.
Standard Chartered Bank and BofA Securities are the joint lead managers and joint bookrunners.
The Regulation S notes will be issued as a drawdown under the Makati City, Philippines-based bank’s $5 billion euro medium-term note program.
Proceeds will be used for general corporate purposes.
| Issuer: | BDO Unibank, Inc.
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| Issue: | Senior notes
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| Amount: | $600 million
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| Maturity: | 5˝ years
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| Bookrunners: | Standard Chartered Bank and BofA Securities
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| Coupon: | 2 1/8%
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| Price talk: | Treasuries plus 235 bps
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| Pricing date: | July 6
|
| Ratings: | Moody’s: Baa2
|
| Distribution: | Regulation S
|
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