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Banking

PNB closes P3.25-billion issue

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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.

vuukle comment

ANNUM

BANK

BASIS

BENCHMARK

BILLION

CERTIFICATES

CLOSED

DEPOSIT

LTNCDS

PHILIPPINE NATIONAL BANK

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