IFR Asia And Alpha Southeast Asia Cite BDO Capital For SMB Bond Issue

Two foreign publications have separately cited BDO Capital & Investment Corp., the investment banking subsidiary of Banco De Oro, for taking a lead role in the P38.8-billion bond issuance of San Miguel Brewery, Inc. (SMB) in 2009.

The International Financing Review Asia (IFR Asia), the region's most authoritative capital markets magazine, noted that SMB achieved an unimaginable feat raising a chunky P38.8 billion in a three-tranche bond issue.

"The deal marked the biggest single corporate bond in the domestic debt markets in the Philippines, and opened the floodgates to large issues that followed in its wake. It stands as IFR Asia's Domestic Bond and Philippines Capital Markets Deal of the Year," stated IFR Asia.

BDO Capital played an important role as one of the joint underwriters for the deal. This, according to IFR Asia, is the first time for an institution to receive both regional and country awards.

Alpha Southeast Asia, in its 3rd Annual Deal Awards, also recognized BDO Capital for the SMB deal. The Hong Kong-based institutional investment magazine awarded SMB's bond issuance as Best Debut Bond Deal of the Year in Southeast Asia.

In its December 2009/January 2010 issue, Alpha Southeast highlighted that among the 10 joint lead managers, BDO Capital took the lion's share of the issue during the underwriting process with an underwriting commitment of P9.9 billion (US$212 million ) or 26% of the issue. "The investment bank's commitment evidences BDO Capital's very strong distribution capability in the Philippines."