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Banco de Oro (BDO) sells P5 billion worth Long Term Negotiable Certificates of Deposit (LTNCEDs)

BDO Unibank, Inc. (BDO) successfully concluded its offer of P5-billion worth of Long Term Negotiable Certificates of Deposit (LTNCDs) on Thursday, 4 October 2012. BDO closed the offer period early due to oversubscription from retail and institutional investors.
The LTNCDs will mature seven (7) years after issue date and will have a coupon rate of 5.25 percent p.a. Interest will be paid quarterly and will be tax exempt for individual investors if held for more than five years. The settlement date is on 15 October 2012.

The LTNCDs will support the Bank’s medium-term growth objectives and help lengthen the maturity profile of its deposit base.

Deutsche Bank AG, Manila Branch (DB) and The Hongkong and Shanghai Banking Corporation Limited (HSBC) acted as Joint Lead Arrangers and Selling Agents for the LTNCD, while BDO and BDO Private Bank were the other selling agents.

About BDO

BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including Lending (corporate, middle market, SME, and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management, and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage, and Stock Brokerage services.

BDO has one of the largest distribution networks, with more than 750 operating branches and over 1,700 ATMs, nationwide. As of 30 June 2012, BDO is the country’s largest bank in terms of total resources, customer loans, total deposits and assets under management. For more information, please visit www.bdo.com.ph.
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"Banco de Oro (BDO) sells P5 billion worth Long Term Negotiable Certificates of Deposit (LTNCEDs)" was written by Mary under the Banking category. It has been read 3024 times and generated 1 comments. The article was created on and updated on 08 October 2012.
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