PBCom raises P7.7B from peso bond offer

PHILIPPINE Bank of Communications (PBCom) raised about P7.7 billion from the maiden issuance of fixed-rate peso bonds that were listed on the Philippine Dealing and Exchange Corp. on Tuesday.

The one-and-a-half-year Series A bonds, which carry a fixed interest rate of 6.0796 percent per year, comprised the first tranche under a P15-billion bond program.