Tuesday 19 February
Jul 12, 2018 @ 17:02

China Bank issues P10B notes on PDEx


This bank is breaking records this year.

China Banking Corporation (China Bank) had a solid run for its first tranche in offering Long Term Negotiable Certificates of Time Deposits.

In a statement, the Sy-owned bank said they have raised P10.25 billion via a public offering for these long-term notes, which is double the original P5 billion auction size.

The notes are due in 2024 and carry an interest rate of 4.55 percent per annum.

“This is the largest LTNCD issuance in the
banking industry so far in 2018. This is also the largest tranche of LTNCD done in China Bank?s
history,” China Bank said in a disclosure.

“Proceeds of the fund raising activity will be used to support China Bank?s strategic
initiatives and expansion programs.”

The notes have been listed on the Philippine Dealing and Exchange Corp.

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