EastWest Bank raises P238.9 million from LTNCD sale

MANILA - EastWest Banking Corp told the Philippine Stock Exchange on Wednesday that it has completed the second tranche of its long-term negotiable certificates of deposit (LTNCD).

In a disclosure, the Gotianun-led lender said it raised P238.9 million from the LTNCDs, which will mature in five years. EastWest said it expects to issue more LTNCDs in several tranches allowed by the Bangko Sentral ng Pilipinas, provided they don't exceed P5 billion.

EastWest started to offer these instruments, which carry a coupon rate of 5 percent, in November last year. The bank is raising capital to expand its loans business.

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EastWest Bank raises P238.9 million from LTNCD sale

Other articles you might be interested

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EastWest Bank Sponsors Inaugural Philippine Hobie 16 National Championship at Subic Lighthouse Marina Hotel