BDO Unibank has set up a P100-billion bond program to ensure leeway for further expansion in the years ahead.
The bond program has been approved by BDO’s board, the bank said in a disclosure to the Philippine Stock Exchange.
The bank issuance is seen exempted from the registration requirement of the Securities and Exchange Commission.
“While the program has been established, there is no definite timetable yet for an issuance under the approved peso bond program,” said Luis Reyes Jr., head of BDO’s investor relations and corporate planning.
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BDO, which has a consolidated equity of some P298 billion, beefed up its capital last year with a P60-billion stock rights offering. This gives the bank more room to increase its leverage.
Led by the SM group, BDO is the country’s largest bank in terms of total assets, loans, deposits and trust funds under management. Total resources hit about P2.7 trillion as of end-June.