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Banking

PNB closes P3.25-billion issue

-
March 31, 2009 | 12:00am

MANILA, Philippines - The Philippine National Bank (PNB) closed the offer period for the P3.25 billion long-term negotiable certificates of time deposit (LTNCDs) last March 24.

Retail investors gobbled up the issue, which was priced at 6.5 percent per annum, representing a six basis points spread over the five-year PDST benchmark rate.

Interest payouts will start June 30, until the LTNCDs mature on March 2014.

ANNUM

BANK

BASIS

BENCHMARK

BILLION

CERTIFICATES

CLOSED

DEPOSIT

LTNCDS

PHILIPPINE NATIONAL BANK
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