Equitable-PCI completes sub debt deal

A second Filipino bank taps the international subordinated debt markets.

Equitable-PCI, the Philippines' third largest bank by assets, completed a $130 million 10 non call five, lower tier 2 debt issue on Friday via bookrunner UBS Warburg and joint lead Deutsche Bank.

The deal represents the first from the Republic since its rating downgrade and while underlying market conditions are currently strong for most Asian credits, market participants do not believe this necessarily holds true for paper from Philippines, where the credit outlook remains clouded.

Equitable-PCI,...

To continue reading, please login or register for free

Click for more on: equitablepci | completes | sub | debt | deal

Print Edition

FinanceAsia Print Edition

CONFERENCES