Philippine Savings Bank launches PHP 3 billion of 5½-year CDs

By Marisa Wong

Morgantown, W.Va., July 24 – Philippine Savings Bank is offering at least PHP 3 billion of long-term negotiable certificates of time deposits from July 24 to Aug. 2, according to a notice.

The offering includes an upsize option.

The 5½-year negotiable CDs will have a coupon of 5%.

ING and Standard Chartered are the joint lead arrangers and bookrunners. First Metro, Metrobank and Philippine Savings Bank are selling agents.

The deal is expected to settle on Aug. 9.

PSBank is a Makati City, Philippines-based subsidiary of Metrobank Group.

© 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.