By Leslie D. Venzon
MANILA, March 16 (PNA) — Listed BDO Unibank Inc. started issuing on Monday another tranche of long-term negotiable certificates of deposit (LTNCD) to raise up to Php 5 billion to support its growth goals.
In a disclosure to the Philippine Stock Exchange, BDO Unibank said the new issuance would have a term of 5.5 years with a still-to-be determined pricing paying interest in quarterly arrears.
The minimum investment is Php 100,000 with increments of Php 50,000.
The offer will run from March 16 to 27, and target issue date is April 6.
The Bank N.V. Manila Branch (ING) and Standard Chartered Bank (SCB) serve as joint lead arrangers and selling agents for the issue. BDO and BDO Private Bank are the other selling agents.
The Bank issued similarly sized LTNCDs in December 2013. (PNA)