RCBC Offers First Tranche of LTNCDs

Rizal Commercial Banking Corp. (RCBC, PSE: RCB) is offering its first tranche of Long-Term Negotiable Certificates of Time Deposit (LTNCDs) due 2024 out of the PhP20 billion approval granted by the Monetary Board of the Bangko Sentral ng Pilipinas last July 12, 2018. The offer period for the first tranche of the LTNCDs will be […]
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BPI Debuts $600M Senior Notes

The Bank of the Philippine Islands (PSE: BPI) successfully raised $600 million 5-year Senior Unsecured Fixed Rate Reg S Notes with a coupon of 4.25% under its US$2 billion Medium Term Note Program. The Notes issuance marks the first in BPI’s 167-year history and the largest ever debut issuance for a bank in the Philippines. […]
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Maclang Retires, Veloso to Take Over as PNB President

Reynaldo A. Maclang is retiring from his post as president of the Lucio Tan-led Philippine National Bank (PSE: PNB) effective November 15, 2018. Maclang will be replaced by Jose Arnulfo “Wick” Veloso, former president and Chief Executive Officer of HSBC Philippines. He will assume office effective November 16, 2018. “The Philippines is poised for long-term, […]
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PH Remains Attractive to Investors, Says HSBC

While Brexit or Britain’s breakaway from the European Union is seen to intensify global risk aversion, the Philippines—along with a handful of Asian markets—remains attractive to equity investors, investment experts from British banking giant HSBC said. “We believe Asia will stay relatively resilient to withstand the Brexit headwind, and we also believe that relatively limited […]
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BDO Signs $500M Syndicated Term Loan

Makati—(PHStocks)—BDO Unibank Inc. (PSE: BDO) has closed and signed a $500 million three-year syndicated term loan facility with a diverse group of international banks, considered as the largest syndicated loan transaction by a Philippine financial institution to-date. The facility generated strong interest and was oversubscribed, prompting BDO to upsize it to $500 million from the initial tranche of $350 […]
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PNB Inks $150M Syndicated Loan

Manila—(PHStocks)—Philippine National Bank (PSE: PNB) successfully closed and signed a $150 million 3-year syndicated term loan facility with a large group of international and regional banks on Friday, 24 April 2015. Standard Chartered Bank acted as the sole Coordinating Bank and fully underwrote the $150 million Facility. The Facility was launched at $150 million and […]
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Manulife Announces Subordinated Debenture Issue

Makati—(PHStocks)—The Manufacturers Life Insurance Company (MLI), the Canadian insurance company subsidiary of Manulife Financial Corp. (PSE: MFC), intends to issue $750 million principal amount of 2.10% fixed/floating subordinated debentures due 1 June 2025 (the Debentures). MLI intends to file a prospectus supplement to its December 13, 2013 base shelf prospectus in respect of this issue. […]
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Security Bank Closes Offer Period for Basel III Compliant Tier 2 Notes

Manila—(PHStocks)—Security Bank Corp. (PSE: SECB) has closed the public offer period for its issuance of Basel III Compliant Tier 2 Notes on July 3, 2014. The Notes were well-received by the market and saw strong demand from both institutional and retail investors. This enabled the Bank to raise the PhP10 billion worth of the Tier […]
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