BDO Unibank Inc. has closed a $500-million, three-year syndicated term loan with international banks, marking its largest syndicated loan transaction to-date.
“BDO intends to utilize the facility for refinancing of an existing term loan and for general banking and corporate purposes,” the bank said in a disclosure to the Philippine Stock Exchange Thursday.
It signed the three-year agreement with various lenders across the Americas, Europe, Asia, and the Middle East.
The deal is considered the largest syndicated loan transaction by a Philippine financial institution to-date.
“The facility generated strong interest and was oversubscribed, prompting BDO to upsize it to $500 million from the initial tranche of $350 million,” the Sy-led lender said.
Lead arrangers and bookrunners for the deal were Bank of America N.A., Deutsche Bank AG-Singapore Branch, The Hong Kong and Shanghai Banking Corporation (HSBC) Limited, Mizuho Bank Ltd., Standard Chartered Bank, and United Overseas Bank Limited. – Jon Viktor Cabuenas/VS, GMA News
source: gmanetwork.com
