By Aaron Hochman-Zimmerman
New York, March 16 - Banco de Oro Unibank Inc. priced an upsized PHP 3 billion in 10-year lower tier II unsecured subordinated notes at 7.5% on Friday, according to a release from the bank.
The notes were originally announced at the amount of PHP 2.5 billion, but were oversubscribed at PHP 5 billion, causing the bank to increase its offer to PHP 3 billion.
HSBC acted as bookrunner for the deal.
The notes feature five years of call protection.
Banco de Oro is a Manila-based commercial lender.
Issuer: Banco de Oro Unibank Inc.
Issue: Lower tier II unsecured subordinated notes
| Amount: | PHP 3 billion
|
| Maturity: | 2019
|
| Yield: | 7½%
|
| Call: | Five years
|
| Bookrunner: | HSBC
|
| Pricing date: | March 13
|
| Settlement date: | March 20
|
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