March 21, 2023

East West announce maturity of bonds

East West Banking Corp. (East West) has announced that its fixed-rate bonds due in 2023 have reached maturity as of February 21, 2023.

The bonds had an issue price of 100 percent and an interest rate of 4.5 percent per annum, and were listed with the Philippine Dealing and Exchange Corp.

“The principal investment amounts due on the bonds were paid to the respective holders thereof in accordance with the relevant terms and conditions contained in the public offerings subject of the previous disclosures of the corporation,” the bank continued.

In February 2020, East West raised P3.7 billion from the said fixed-rate bonds, which comprised the first tranche of a P10-billion fundraising program announced in June 2019.

The issuance was meant to diversify East West’s funding sources and strengthen its liquidity position.