Philippines’ BDO Unibank plans PHP 5 billion more negotiable CDs

By Marisa Wong

Madison, Wis., March 16 – BDO Unibank, Inc. announced it plans to issue another PHP 5 billion of long-term negotiable certificates of deposit.

The bank last issued PHP 5 billion of long-term negotiable CDs in December 2013.

Pricing for the 5˝-year negotiable CDs will be finalized at the end of the offer period, which will run from March 16 to March 27.

Settlement is slated for April 6.

ING Bank NV Manila Branch and Standard Chartered Bank will be the joint lead arrangers and selling agents for the offer. BDO and BDO Private Bank are the other selling agents.

The Makati City, Philippines-based bank said the offering is part of its effort to lengthen the maturity profile of its funding sources and support its growth objectives.

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