East West Banking Corporation (“EastWest”), one of the fastest-growing banks in the country today, has raised Php5 Billion worth of Basel III compliant Tier 2 Unsecured Subordinated Notes (“the Notes”).

The Notes were issued at a coupon rate of 5.50% and will mature on January 2025. The settlement date is set on July 4, 2014. EastWest has the option to call the Notes in 5 years and 6 months from the issue date. Interest will be paid quarterly in arrears.

Deutsche Bank, Hongkong and Shanghai Banking Corp., Standard Chartered Bank and UniCapital served as the joint lead arrangers and selling agents. EastWest is the limited selling agent, and Multinational Investment Bancorporation as the issue’s market maker and selling agent.

At the end of the first quarter of the year, EastWest’s total assets stood at Php153.8 billion with gross total loan portfolio of Php102.0 billion. Its capital adequacy ratio (CAR) and tier 1 ratio stood at 12.2% and 11.3%, respectively.

Mr. Tony C. Moncupa Jr., President and CEO of EastWest said, “we are pleased with the reception and are grateful for the trust and confidence of our clients and investors. This fresh Basel III eligible capital will support our expansion program as we complete our target to have at least 400 branch stores before the end of the year to serve more customers.”

EastWest is a subsidiary of the Filinvest Development Corporation (FDC), one of the largest and well established business conglomerates in the Philippines. FDC, established in 1955, is identified with the Gotianun family and aside from banking, its business interest include real estate, sugar, hospitality and tourism, and power generation.