By Paul A. Harris
St. Louis, Feb. 7 - The Philippines' Equitable-PCI Bank priced $100 million of three-year senior notes (Ba2/B) at 99.33 with a 6½% coupon to yield 6¾%, according to an informed source.
Price talk was 7¼% to 7½%.
JP Morgan and HSBC Group ran the books for the Regulation S issue.
Proceeds will be used for general corporate purposes.
The Manila-based issuer is the third largest domestic bank in the Philippines.
| Issuer: | Equitable-PCI Bank
|
| Amount: | $100 million
|
| Maturity: | Feb. 19, 2008
|
| Security description: | Senior notes
|
| Bookrunners: | JP Morgan, HSBC
|
| Coupon: | 6½%
|
| Price: | 99.33
|
| Yield: | 6¾%
|
| Spread: | 328 basis points
|
| Trade date: | Feb. 4
|
| Settlement date: | Feb. 11
|
| Ratings: | Moody's: Ba2
|
| Standard & Poor's: B
|
| Price talk: | 7¼% to 7½%
|
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