BPI to raise P3B from LTNCDs

Oct 09, 2019 12:27 am

AYALA-led Bank of the Philippine Islands (BPI) is looking to generate P3 billion in fresh funds from its offer of long-term negotiable certificates of deposit (LTNCDs), with an option to upsize.

In a disclosure on Tuesday, the lender said the LTNCDs would have a term of five-and-a-half years with an interest rate of 4 percent per annum paid quarterly.

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