Multibank issues $ 300 million in corporate bonds

Multibank Inc., issued $ 300 million in Unsecured corporate bonds in international markets, on November 6, 2017, under the modality “144A / Reg. S”.

The issuance listed on the Singapore Stock Exchange, the first of an international nature of the bank, denominated in US dollars and subscribed for more than three times the maximum amount of available bonds, was marketed to a wide range of institutional investors at an international level, the allocations ended up distributed among 116 entities in North America, South America, Europe and Asia.

The bonds have a tenor of 5 years (due 2022) and pay a coupon of 4.375%; that is, it was placed at a margin of 240 points above the United States Treasury Bond. In addition, they were rated with international investment grade “BBB-” (Triple B minus), by rating agencies Fitch Ratings and Standard & Poor’s.

These funds will be expected to be used by Multibank Inc., for general corporate purposes, within its funding strategy established in its 2017-2020 Plan, which aims for the bank to continue its sustained growth and consolidate its position in the market.

The bond issue represents a significant diversification, particularly in terms of the source of funds.

As bookrunners UBS Securities LLC and Mizuho Securities USA LLC act jointly, and the emission is governed by the laws of New York, United States.