Philippine National Bank plans up to PHP 20 billion negotiable CDs

By Marisa Wong

Morgantown, W.Va., Jan. 22 – Philippine National Bank notified the Philippine Stock Exchange, Inc. that it plans to issue up to PHP 20 billion of long-term negotiable certificates of time deposit.

The proposed negotiable CDs are subject to approval from Bangko Sentral ng Pilipinas.

Proceeds will be used to extend the maturity profile of the bank’s liabilities as part of overall liability management, to support compliance with required BSP liquidity ratios and to raise long-term funds for general corporate purposes.

The commercial and retail bank is based in Pasay City, Philippines.

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