MANILA, Philippines - BDO Unibank said it successfully raised $300 million from issuing a 5-year, fixed rate senior notes due in 2017.

"We are delighted with the outcome. The orders for our issue built up rapidly and we decided to close the books early and to take advantage of the interest our issue generated, given the volatility of current markets," Pedro M. Florescio III, BDO executive vice-president and treasurer, said in a statement.

The senior notes will have a coupon of 4.5% and a yield of 4.625% per annum.

BDO said proceeds of the senior notes will go to supporting the bank's business expansion plans and re-lending activities.

UBS acted as sole bookrunner for the issue while BDO Capital & Investment Corp. was the joint lead manager.