Philippines' BDO Unibank to offer PHP 5 billion 51/2-year negotiable CDs

By Marisa Wong

Madison, Wis., March 4 - BDO Unibank, Inc. announced it plans to issue up to PHP 5 billion of long-term negotiable certificates of deposit.

Pricing for the 51/2-year negotiable CDs will be in the 4% area and will be finalized at the end of the offer period, which will run from March 4 to March 15.

Settlement is slated for March 25.

Standard Chartered Bank and ING Bank NV Manila Branch will be the joint lead arrangers and selling agents for the offer. BDO and BDO Private Bank are the other selling agents.

The Makati City, Philippines-based bank said the offering is part of its effort to lengthen the maturity profile of its funding sources and support its medium-term growth objectives.

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