The Philippine Bank of Communications said Friday it completed ahead of schedule its inaugural peso bond offering at aims to raise around P2 billion to refinance debt and support loan growth.
Originally set to run from October 14 to October 28, the offering garnered significant interest from both retail clients and a diverse range of institutional investors.
The Series A bonds, which feature a tenor of one and a half years and a fixed annual interest rate of 6.0796 percent, mark the first tranche of PBCOM’s P15 billion Peso Bond Program.
The bonds are slated for issuance and listing on the Philippine Dealing & Exchange Corp. on 5 November.
ING Bank N.V. Manila Branch acted as the Sole Arranger and Bookrunner for the offering, with both PBCOM and ING serving as selling agents.
