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February 19, 2021 | 12:05 am Font Size
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CHINA BANKING Corp. (China Bank) raised P20 billion from its issuance of three-year bonds to be used for its expansion programs and other strategic initiatives.
The issued volume was four times its original offer of P5 billion, the lender said in a statement on Thursday.
“This successful issuance represents a strong start of the year for China Bank. The strong demand we garnered underscores the investing public’s sustained confidence in China Bank amid these challenging times,” China Bank President William C. Whang was quoted as saying.
The papers carry a coupon rate of 2.5% per annum to be paid monthly and are set to mature in 2024.