The offering of peso-denominated bonds — with a tenor of two years and a fixed rate of 2.9 percent per annum —was oversubscribed by more than 10 times the original offer of P5 billion on the back of strong demand from retail and institutional investors, BDO disclosed to the Philippine Stock Exchange on Friday .This was achieved despite the offer period having cut short to close on Jan. 19 instead of Jan. 21.
“This is a new milestone for the bank as it exceeds its previous record of P40.1 billion for a single bond issuance, and by far the largest issuance for any Philippine financial institution or company,” BDO said.
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