The country’s leading lender, BDO Unibank, has raised $600 million from the offshore bond market, building up its cash hoard while interest rates are favorable.
The fixed rate notes issue has a coupon rate of 2.125 percent per annum and a tenor of 5.5 years, BDO disclosed to the Philippine Stock Exchange on Tuesday.The transaction was oversubscribed, with orders reaching $2.9 billion, equivalent to almost five times the offered amount.
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