Lucio Co's PBCOM rolls out maiden peso bond sale

October 14, 2024
4:22PM PHT

Tycoon Lucio Co’s Philippine Bank of Communications (PBCOM) has announced the sale of its first peso bond issuance, as it aims to raise P2 billion with an option to increase in the event of strong demand.

The Series A Bonds, part of PBCOM’s P15-billion bond program, will have a 1.5-year term and a fixed interest rate of 6.0796 percent per annum, a stock exchange filing on Monday showed.  

The offering runs from Oct. 14 to 28, 2024, with the bonds expected to list on the Philippine Dealing & Exchange Corp. by Nov. 5. 

Proceeds will be used for general corporate purposes, including refinancing debt and supporting loan growth, the lender said. 

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