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BPI offers P3B high-yielding deposit notes

Bank of the Philippine Islands has kicked off the offering of up to P3 billion in long-term negotiable certificates of time deposit.

Bank of the Philippine Islands has kicked off the offering of up to P3 billion in long-term negotiable certificates of time deposit.

The LTNCDs will have a term of 5 years and 6 months with an indicative rate of four percent per annum.

BPI said the offer period would run until Oct 18 with the listing date of the bonds set for Oct. 25.

Hong Kong Shanghai and Banking Corp. Ltd. is the sole arranger while BPI Capital Corp. is the sole selling agent.

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