Still, she cited the ample liquidity in the financial system - owing to the reduction in banks' reserve requirements and the redemption of P131 billion worth of government securities - which led to the oversubscription
of the bond sale.
In the event that the oversubscription
option is not fully exercised, the unused portion will be made part of the remaining volume that will have to be sold within a three-year period.
In a disclosure to the Philippine Stock Exchange on Thursday, Megaworld announced that its board had approved this debt securities program with an initial issuance of fixed-rate bonds of up to P8 billion and an oversubscription
option of up to P4 billion.
The facility was positively received and achieved a significant oversubscription
. It was sole coordinated by First Gulf Bank PJSC, one of the leading banks in the UAE, with First Gulf Bank PJSC and Abu Dhabi Commercial Bank PJSC acting as Book runners and Mandated Lead Arrangers, Commercial Bank of Dubai PSC committing as Lead Arranger, and Emirates NBD Bank PJSC, Union National Bank PJSC, National Bank of Fujairah PJSC, Doha Bank QSC, Nomura International plc, HSBC Bank Middle East Limited, Commercial Bank International PLC, Malayan Banking Berhad (Maybank) and GarantiBank International N.V.
and upsize the issuance from RM1.5 billion to RM2.2 billion, representing an oversubscription
of 1.8 times.
The proposed issuance was very well received by the market, with the order book closing at approximately $5.4 billion, representing 7.2 times oversubscription
Global Banking News-1 December 2009-Greece's Alpha Bank registers oversubscription
of rights issue(C)2009 ENPublishing - http://www.enpublishing.co.uk
Finnish energy company Neste Oil Corporation, formerly Fortum Oil Oyj, said on Tuesday (7 June) that the subscription of its notes 1/2005 and 2/2005 had been suspended due to oversubscription
Data from the BSP showed oversubscription
anew across all tenors on Wednesday, the second consecutive week all three tenors were oversubscribed.
'We continue to see oversubscription
on both tenors as funds go back to the banking system after the holidays.
Due to the significant oversubscription
, Ziraat Participation Bank increased the facility size to $155 million.