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Philippines’ BDO Unibank talks PHP 5 billion negotiable CDs at 3½%-3¾%
By Marisa Wong
Morgantown, W.Va., July 31 – BDO Unibank, Inc. said it will issue PHP 5 billion of long-term negotiable certificates of time deposit. The offer period began on Monday and will run until Aug. 11, with settlement slated for Aug. 18.
Pricing for the 5½-year negotiable CDs will be between 3½% and 3¾% and will be finalized at the end of the offer period.
Deutsche Bank AG, Manila Branch and ING Bank NV, Manila Branch are 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 it is issuing the negotiable CDs to diversify the maturity of its funding sources and to support business expansion plans.
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