EastWest, the Philippines’ most consumer-focused universal bank, has successfully raised P3.7 billion in its maiden bond issuance well above its target of P2 billion.
The bonds have a tenor of three years and carry an interest rate of 4.5 percent per annum.
“The success of the bond issuance shows the trust and confidence of the public with EastWest Bank,” said Rafael Algarra, Jr., EastWest Senior Executive Vice President and Treasurer.
“To our investors, we recognize that they are our partners in success and we assure them that we will continue to provide alternative investment outlets.”
Issuing a bond despite its strong liquidity position is a testament of EastWest’s commitment to continually expand the roster of investments the bank can offer to the public.
Philippine financing house Unicapital Inc. served as lead arranger and selling agent of the bonds.
EastWest is one of the largest universal banks in the Philippines, based on publicly available data.
Currently celebrating its 25th anniversary, EastWest has steadily grown beyond its years, building fruitful partnerships and acquiring key assets to cement its position as one of the country’s most consumer-focused banks today.
EastWest caters to the financial needs of consumers, middle market corporates, and the mass affluent.
EastWest is a subsidiary of Filinvest Development Corporation (FDC), one of the country’s leading conglomerates with a diverse range of interests including real estate, banking, sugar, hospitality, tourism, and power generation.
