Philippines’ BDO Unibank talks PHP 5 billion negotiable CDs at 4˝%

By Marisa Wong

Morgantown, W.Va., April 20 – BDO Unibank, Inc. said it will issue PHP 5 billion of long-term negotiable certificates of time deposit. The offer period began on Friday and will run until April 30, with settlement slated for May 7.

Pricing for the 5˝-year negotiable CDs is talked at 4˝% 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 lengthen the maturity of its funding sources and to support business expansion plans.

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