DCM BDO Green (IFC-40419)

Countries
  • Philippines
Where the impacts of the investment may be experienced.
Financial Institutions
  • International Finance Corporation (IFC)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 8, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
BDO UNIBANK, INC.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 150.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Primary Source

Original disclosure @ IFC website

Updated in EWS Feb 19, 2018

Disclosed by Bank Dec 8, 2017


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Project Description

International Finance Corporation (“IFC”) is investing in a green bond of up to US$150 million to be issued by BDO Unibank, Inc. (“BDO”). Through the investment, IFC will support BDO in raising long term funding for BDO’s lending program to qualifying green projects in the Philippines.

Investment Description
  • International Finance Corporation (IFC)

The total project cost is estimated at US$150 million. The proposed IFC investment consists of USD150 million USD-denominated bond to be issued by BDO. The proceeds from the bond will be used to support the Bank’s lending program to climate smart projects including renewable energy (RE), energy efficiency (EE), and green buildings.

Private Actors

BDO was incorporated in the Philippines in 1967 and is listed on the Philippines Stock Exchange. The Bank provides a wide range of banking and financial products and services, including commercial and retail banking, consumer banking, investment banking, private banking, leasing and financing. BDO is the largest bank in the Philippines in terms of asset size and equity. The major shareholder of the Bank is SM Investments Corporation (SMIC) with a 40.09% shareholding. SMIC is a listed company with major interests in property, retail and financial services. As of June 30, 2017, 44.95% of BDO are held by the public.

Contact Information

BDO Unibank, Inc.
Luis S. Reyes, Jr.
Senior Vice President, Investor Relations and Corporate Planning
+63(2)840 7142
Reyes.luis@bdo.com.ph
4th Floor, South Tower, BDO Corporate Center, 7899 Makati Avenue, Makati City 0726
www.bdo.com.ph

ACCOUNTABILITY MECHANISM OF IFC

The Compliance Advisor Ombudsman (CAO) is the independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an IFC or MIGA- financed project. If you submit a complaint to the CAO, they may assist you in resolving a dispute with the company and/or investigate to assess whether the IFC is following its own policies and procedures for preventing harm to people or the environment. If you want to submit a complaint electronically, you can email the CAO at CAO@worldbankgroup.org. You can learn more about the CAO and how to file a complaint at http://www.cao-ombudsman.org/