Fixed- Income Underwriting, Packaging and Syndication

Fixed-income issues are an alternative to equity capital, generally suited to clients avoiding dilution of ownership. BDO Capital offers the following services for this general product line:

• Underwriting of Bonds and Commercial Papers

  BDO Capital underwrites bonds and commercial papers which are evidence of indebtedness of private or government entities with maturity of either 365 days or less (short-term commercial papers) or more than 365 days (long-term commercial papers/bonds). Purchasers of or investors in bonds/ commercial papers receive earnings via periodic coupon or interest payments.

  Corporate Bonds/Long-Term Commercial Papers - Registered with the Securities and Exchange Commission and rated. Normally sold to the public.

  Government Bonds/Securities - Credit risk-free, hence rating is not required. Highly marketable and liquid. Sold to the public.

  Short-Term Commercial Papers - Registered with the Securities and Exchange Commission and rated. May be sold to the public or privately placed.



• Term Loan Packaging and Syndication

  BDO Capital arranges and syndicates term loans for companies who wish to borrow money from selected financial institutions or through private placement. BDO Capital invites other participants in the issue, or " syndicates " the transaction. Term loans may be denominated either in pesos or dollars.

  Corporate Loans - Certificate of indebtedness of a corporation

  Project Finance - Involves a corporation (project sponsor) investing in and owning a single-purpose industrial asset (usually with a limited life) through another company (project company) financed by non-recourse or limited-recourse debt. Borrowers are usually power plants, infrastructure companies (roads) and hospitals.