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Philippines' EastWest Bank gets OK for PHP 5 billion negotiable CDs
By Marisa Wong
Madison, Wis., Aug. 31 - EastWest Banking Corp. said the Bangko Sentral ng Pilipinas approved its proposed issuance of up to PHP 5 billion of long-term negotiable certificates of deposit.
The CDs will have a maturity of at least five years and one day and up to five years and six months. The coupon will be fixed.
Unicapital, Inc. will be the arranger.
The issue date has yet to be determined.
The Makati City, Philippines-based bank's board of directors approved the long-term negotiable CDs in May. No terms were disclosed at that time.
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