LISTED Philippine Bank of Communications (PBCom) on Friday said that it had closed a maiden P2-billion peso bond offering a week earlier than scheduled.
LISTED Philippine Bank of Communications on Friday said that it had closed a maiden P2-billion peso bond offering a week earlier than scheduled.PBCom said the offer period was cut short because of 'robust investor demand,' citing 'strong interest from both retail clients and a diverse mix of institutional investors.'The bank's one-and-half-year Series A bond offer, which commenced Monday, was supposed to close on October 28. The bonds carry a fixed interest rate of 6.
The Development Bank of the Philippines' Trust Banking Group served as trustee of the offering.Last month, PBCom received an issuer credit rating of 'PRS Aa minus' with a 'stable' outlook from Philippine Rating Services Corp.
Ends Bond Offer Early Cites Strong Demand
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