The Offer raised gross proceeds of PHP43.5 billion (equivalent to over US$1 billion). This represents a key milestone not only for BDO but also for the Philippines, being the largest ever equity capital markets transaction by a Philippine issuer.
The Offer strengthened BDO's Common Equity Tier 1 Capital, and provides a comfortable buffer to the more stringent Basel III capital requirements expected to be implemented by the BSP. BDO believes the Offer has better-positioned it to fulfill its medium-term growth objectives and take advantage of the positive outlook on the Philippine economy.
The Offer was oversubscribed, with shareholders applying for shares beyond their entitlement. The Offer also saw strong participation from the Bank's domestic and international investors, despite challenging global market conditions.
Citi, Deutsche Bank and J.P.Morgan served as Joint International Lead Managers and International Underwriters, United Overseas Bank Limited acted as International Co-Lead Manager and International Co-Lead Underwriter, while BDO Capital & Investment Corporation was Issue Manager and Domestic Underwriter.
About BDO
BDO is a full-service universal bank that provides a complete array of industry-leading products and services to the retail and corporate markets including Lending (corporate, middle market, SME, and consumer), Deposit-taking, Foreign Exchange, Brokering, Trust and Investments, Credit Cards, Corporate Cash Management, and Remittances. Through its subsidiaries, the Bank offers Leasing and Financing, Investment Banking, Private Banking, Bancassurance, Insurance Brokerage, and Stock Brokerage services.
BDO has one of the largest distribution networks, with more than 770 branch licenses and over 1,645 ATMs, nationwide. As of 31 March 2012, BDO is the country's largest bank in terms of total resources, customer loans, total deposits and assets under management. For more information, please visit www.bdo.com.ph.
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