Philippines' EastWest Banking sells PHP 78.88 million negotiable CDs

By Marisa Wong

Madison, Wis., May 22 - EastWest Banking Corp. said it completed its seventh tranche of long-term negotiable certificates of deposit with a total face value of PHP 78.88 million and expects to issue several more tranches of the CDs.

EastWest completed its first tranche of negotiable CDs totaling PHP 1.53 billion in November, a second tranche of CDs totaling PHP 238.88 million in February, a third tranche of PHP 770.17 million in March, a fourth tranche of PHP 1.86 billion and a fifth tranche of PHP 110.06 million in April and a sixth tranche of PHP 52.5 million earlier this month.

The Taguig City, Philippines-based bank previously announced that it would offer up to PHP 5 billion of negotiable CDs in one or more tranches over a one-year period to fund its expansion activities.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.