By Marisa Wong
Morgantown, W.Va., Jan. 31 – Philippine Savings Bank raised PHP 3,375,000,000 from an issuance of long-term negotiable certificates of time deposit, according to a press release.
The 3˝% long-term negotiable CDs mature in April 2022.
The bank said the CDs “attracted good demand.” The bank had initially planned to issue up to PHP 3 billion of the CDs.
The offering ran from Jan. 10 to Jan. 23.
ING Bank was the sole arranger and also a selling agent alongside First Metro Investment Corp., Metrobank and Philippine Savings Bank, as previously reported.
The bank said proceeds will support its business expansion and diversify its funding sources.
PSBank is a Makati City, Philippines-based subsidiary of Metrobank Group.
| Issuer: | Philippine Savings Bank
|
| Issue: | Long-term negotiable certificates of time deposit
|
| Amount: | PHP 3,375,000,000
|
| Maturity: | April 2022
|
| Coupon: | 3˝%
|
| Arranger: | ING Bank
|
| Offer period: | Jan. 10-Jan. 23
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
