DBP closes Basel III compliant issuance

State-owned Development Bank of the Philippines (DBP) successfully closed the order book for its first Basel III compliant Tier 2 fixed-rate unsecured subordinated notes in the Philippines, Standard Chartered Bank, the sole Global Coordinator for the issue, said.

Standard Chartered announced the early close of offering on November 8, days before end of the offer period to the general public. It noted that the expected issue and settlement date of the security is on November 20.