Philippine National Bank $500 million two-tranche yankee: Salomon Brothers
In one of the most contentious deals of this year or perhaps any, Salomon Brothers took the sole lead on the reworked transaction. The original launch was postponed amid accusations that the syndicate had fallen out. The official line was that the deal was put back after thorough evaluation of all relevant market factors. It was eventually issued in two tranches, one $100 million 100-year bond and a $400 million 30-year bond.
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