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Philippine-based China Bank raises $158m debt

Discussion in 'Banking - Investing - Finances' started by Rye83, Jul 1, 2015.

  1. Rye83

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    Philippine-based China Banking Corporation (China Bank) has raised a $158 million three-year term loan facility from regional and international banks.

    The facility agreement, which carries an interest margin of 1.40 per cent per annum over three months Libor, was signed last Thursday and its draw down is scheduled today, June 30, 2015.

    China Bank earlier informed the stock exchange that proceeds will be used for general corporate purposes and to support the growth of China Bank’s dollar assets.

    “We are pleased with the positive response of the international lenders to this transaction. It reflects the international FI’s confidence in China Bank’s solid fundamentals — strong capital levels, well diversified loan portfolio and quality assets, and strong balance sheet with sustainable growth,” said China Bank president and CEO Ricardo R. Chua.

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