CHINA Banking Corp. (China Bank) said Monday it has settled its three-year $158-million syndicated loan one year ahead of its scheduled maturity in June 2018. “China Bank successfully returned to the capital markets in June 2015 with this facility since its US$125 million floating rate certificates of deposit (FRCD) issue in 1996 and 1997,” it said. “The proceeds of the loan were deployed into better yielding assets as well as funding for corporate borrowers and project financing deals,” China Bank added. Mega International Commercial Bank Co., Ltd., CTBC Bank Co., Ltd. Singapore, The Shanghai Commercial & Savings Bank, Ltd., Taiwan Cooperative Bank, and Taishin International Bank Co, Ltd. were also mandated as arrangers. Established in 1920, China Bank is the commercial banking arm of tycoon Henry Sy.

Source: Manila Times July 17, 2017 17:37 UTC