The country’s leading lender, BDO Unibank, rolled out on Wednesday at least P5 billion worth of high-yielding deposits as it sought to lengthen the maturity of its funding sources and support expansion plans.
The long-term negotiable certificates of deposits (LTNCDs) will have a term of five and a half years with an indicative pricing of 5.125-5.50 percent a year, BDO told the Philippine Stock Exchange on Wednesday.
BDO can still increase the issue size, depending on market demand.
This marks BDO’s return to the LTNCD market after a year. It last issued P8.2 billion worth of LTNCDs in May last year.
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The final coupon rate will be set prior to or at the end of the offer period, which will run from March 27 to April 5. The bank can adjust the timing of the offer.
Interest will be paid quarterly. The minimum investment is P100,000, and in increments of P50,000.
