Citigroup and Standard Chartered have completed a US$175mn five-year fundraising for Philippine National Oil Corp. The mandated arrangers held US$40mn and US$35mn respectively.
Arrangers include Security Bank Corp taking US$18mn, and KBC Bank NV ( Manila ) and Land Bank of the Philippines committing US$12mn each.
Lead managers comprise Bank of Nova Scotia providing US$10mn and Chinatrust (Philippines) Commercial Bank, DZ Bank AG (Singapore), International Commercial Bank of China (Manila) and Taiwan Co-operative Bank (Manila OBB) contributing US$7mn apiece.
Allied Banking Corp, Arab Investment Co SAA, Bank of Communications ( Singapore ), China Construction Bank ( Singapore ) and United World Chinese Commercial Bank committed as managers.