Philippines' EastWest Banking offers 5% negotiable CDs due 2018

By Marisa Wong

Madison, Wis., Nov. 6 - EastWest Banking Corp. said it will offer 5% long-term negotiable certificates of deposit due May 23, 2018 from Nov. 6 to Nov. 16.

Unicapital, Inc. is the lead arranger and a selling agent alongside East West Banking.

The issue date is set for Nov. 23.

The company previously announced that it would offer up to PHP 5 billion of negotiable CDs. The securities may be issued in one or more tranches over a one-year period.

The Taguig City, Philippines-based bank's board of directors approved the long-term negotiable CDs in May. Bangko Sentral ng Pilipinas approved the issuance in August.

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