Philippine National Bank sells PHP 13.87 billion fixed-rate bonds

By Marisa Wong

Morgantown, W.Va., May 8 – Philippine National Bank issued PHP 13.87 billion of fixed-rate bonds, according to a company news release.

The bank’s maiden offering was almost three times oversubscribed. The bank had initially planned to issue PHP 5 billion of the bonds.

Standard Chartered Bank was the arranger and bookrunner.

Pricing details were not disclosed in Monday’s announcement.

The commercial and retail bank is based in Pasay City, Philippines.

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