<article><a style="color: #000080;" href="https://www.bdo.com.ph" target="_blank">BDO Unibank Inc</a> has gotten the approval of the Philippine Stock Exchange (PSE) for its program to raise up to $1.2 billion (P60 billion) in additional core capital.</article>

<a style="color: #000080;" href="https://www.bdo.com.ph" target="_blank">BDO Unibank Inc</a> has gotten the approval of the Philippine Stock Exchange (PSE) for its program to raise up to $1.2 billion (P60 billion) in additional core capital.
The Sy-led bank earlier disclosed that PSE&#8217;s board of directors approved on December 14 its proposed stocks rights offer (SRO) in order to raise the fresh capital.
BDO last November 23 received clearance from the central bank or Bangko Sentral ng Pilipinas (BSP) to proceed with the offer.
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&#8220;The proceeds from the Stock Rights Offer will support the BDO’s medium-term growth objectives amid the country’s favorable macroeconomic prospects and provide a comfortable buffer over higher capital requirements with the forthcoming imposition of the Domestic Systemically Important Bank (DSIB) surcharge,&#8221; BDO said in its statement.
BDO is determined that the additional capital will also allow the company to sustain its momentum and take advantage of the country&#8217;s growth opportunities.
The bank plans to offer a maximum of 800 million shares with approximate proportion of one rights offer share for every five existing shares on January 16, 2017 to January 24, 2017.
The offer price has yet to be announced, and the rights shares are expected to list on the PSE around January 31, 2017.
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BDO has appointed Credit Suisse, UBS and BDO Capital as Joint Global Coordinators and Bookrunners, with Citigroup, Goldman Sachs and HSBC as Joint Bookrunners. BDO Capital will serve as Issue Manager and Domestic Underwriter.
BDO&#8217;s net income went up 10 per cent to P19.3 billion in the first nine months of 2016.
The Bank’s core lending, deposit-taking and fee-based businesses delivered solid results during the period, offsetting a more normalized contribution from treasury activities.
BDO last October issued $300 million in Fixed Rate Senior Notes at 2.63 per cent, the lowest ever coupon rate for any US Dollar denominated bond for a Philippine issuer.
BDO last traded at P111.20 per share on December 16, down by 0.18 per cent or P0.200 from yesterday.
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Philippine bourse okays BDO Unibank's $1.2b funding program

Philippine bourse okays BDO Unibank's $1.2b funding program

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Philippine bourse okays BDO Unibank's $1.2b funding program

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