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BDO Unibank raises 6.5B pesos in LTNCDs

BDO Unibank Inc. raised 6.5 billion Philippine pesos from its issue of long-term negotiable certificates of deposit, or LTNCDs.

The LTNCDs have a term of 5.5 years with a final interest rate of 4% per annum. The issue date is set to Sept. 27 with a maturity date of March 27, 2025.

The bank said the offer was upsized from the original offer of 5 billion pesos following solid demand from retail investors.

ING Bank N.V.'s Manila branch is the sole arranger and selling agent for the issue.

As of Sept. 20, US$1 was equivalent to 52.02 Philippine pesos.