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BDO Unibank to offer 5B Philippine pesos of LTNCDs

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BDO Unibank to offer 5B Philippine pesos of LTNCDs

BDO Unibank Inc. plans to offer 5 billion Philippine pesos of long-term negotiable certificates of deposit, or LTNCDs.

The 5.5-year instruments carry an indicative rate of around 3.75%, according to a Sept. 9 release, with the final coupon to be set at the end of an offer period that runs between Sept. 10 and Sept. 20. The bank may also decide to shorten the offer period and/or increase the issue size.

The issue date is set for Sept. 27.

ING Bank N.V.'s Manila branch is the sole arranger and selling agent for an exercise aimed at diversifying the maturity profile of BDO Unibank's funding sources and support business expansion plans.

As of Sept. 9, US$1 was equivalent to 51.87 Philippine pesos.