BDO Unibank Inc. will again tap the fixed-income market with the issuance of another P5-billion long-term negotiable certificates of deposit (LTNCDs) or high-yielding deposit instruments.
LTNCDs are negotiable certificates of deposit with a designated maturity, and represents a bank’s obligation to pay the face value upon maturity, with periodic coupon or interest payments during the life of the deposit. Deposit insurance coverage with the Philippine Depository Insurance Corp. for this kind of issuance is up to a maximum of P500,000 each depositor.
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