BDO shares slip as $500M from dollar bond sale tests appetite

BDO UNIBANK, Ine. was the most actively traded stock on the Philippine Stock Exchange (PSE) last week, with investors closely eyeing the bank's $500-million bond sale, its first offshore debt issue in three years.

- By Pierce Oel A. Montalvo Reporter

A total of 37.69 million BDO shares worth P4.89 billion changed hands over the week, according to PSE data. The stock closed at P131, down 0.4% from P131.50 a week earlier, underperforming the financial sector and the broader Philippine Stock Exchange index (PSEi), which rose 0.6% and 0.4%, respectively.

Compared with its P142.70 close on the last trading day of 2024, BDO’s shares were down 8.2%, slightly worse than the financial sector’s 7.1% decline and the PSEi’s 7.8% slump.

The bank raised $500 million through five-year dollar-denominated bonds, which were oversubscribed more than three times, attracting tenders totaling roughly $1.6 billion. The notes carry a 4.375% coupon rate. BDO’s last offshore bond issuance was a $100 million seven-year blue bond in May 2022, in partnership with the International Finance Corp.