By Rebecca Melvin
New York, Sept. 1 – Philippines' BDO Unibank Inc. detailed its sale of $700 million of 2.95% 5.5-year senior notes (expected rating: Baa2) at 99.909 to yield 2.968%, or Treasuries plus 125 basis points, according to a syndicate source.
As previously reported, BofA Merrill Lynch, HSBC and Wells Fargo Securities were joint lead managers and bookrunners for the Regulation S deal, which priced on Wednesday.
Proceeds will be used for financing the bank’s operations and for general corporate purposes.
BDO Unibank is a Makati City, Philippines-based bank.
| Issuer: | BDO Unibank Inc.
|
| Amount: | $700 million
|
| Maturity: | March 6, 2023
|
| Description: | Senior unsecured notes
|
| Bookrunners: | BofA Merrill Lynch, HSBC and Wells Fargo Securities
|
| Co-managers: | Mizuho Securities and MUFG
|
| Coupon: | 2.95%
|
| Price: | 99.909
|
| Yield: | 2.968%
|
| Spread: | Treasuries plus 125 bps
|
| Trade date: | Aug. 31
|
| Settlement date: | Sept. 6
|
| Expected rating: | Moody's: Baa2
|
| Distribution: | Regulation S
|
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