China Bank, short for China Bank Corporation, concluded its fixed rate bond offering a few days back, October 5, following a compelling demand.
Its two-year bonds, with a fixed rate of 2.7% annually, were given to the public as of September 28. Only after a few days, the public orders surpassed the outstanding figure of P15 billion.
William C. Whang, China Bank’s head, expressed his satisfaction over the huge support of investors on the second bond issuance and said the enormous demand shows the public trust, assurance and optimism in this critical juncture.
What’s gained from bonds offering will go to the Bank for its expansion policies and initiatives.