SEC greenlights BDO Leasing’s P15 billion debt issuance
Lawrence Agcaoili (The Philippine Star) - December 30, 2017 - 12:00am

MANILA, Philippines — The Securities and Exchange Commission (SEC) has given Sy-led BDO Leasing and Finance Inc. the green light to raise P15 billion in fresh equity through the issuance of debt papers.

In a disclosure to the Philippine Stock Exchange (PSE), BDO Leasing said it received last Dec. 20 a certificate of permit to offer securities for sale amounting to P15 billion to the public.

The fund raising activity would have to comply with the provisions of the Securities and Regulation Code and its amended implementing rules and regulations, revised code of corporate governance and other applicable laws and orders issued by the SEC.

The debt paper received the second highest rating category or PRS Aa from the Philippine Rating Services Corp.

BDO Leasing is recognized as one of the leading players in the commercial leasing industry, directly competing with other financing companies affiliated with top Philippine banks and other financial services firms.

Its leasing activities include the renting and leasing of equipment and real properties, while its financing activities involve the borrowing and relending of funds.

An issuer rating is an opinion on the general and overall creditworthiness of the issuer, evaluating its ability to meet all financial obligations within a time horizon of one year.

The focus is on financial strength and stability under normal and stressed conditions to meet existing and prospective financial obligations.

The company was also assigned a stable outlook, which means the assigned issuer credit rating is likely to remain unchanged in the next 12 months.

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