Philippine Savings Bank plans up to PHP 40 billion bonds in tranches

By Marisa Wong

Morgantown, W.Va., March 13 – Philippine Savings Bank said its board of directors has approved the issuance of up to PHP 40 billion of peso-denominated bonds in multiple tranches.

The bank said the bond issuance will allow it to access long-term funding as it further expands its consumer banking business and will also diversify its funding base and tap a wider investor base targeting both institutional and individual investors.

The offering period, interest rate and tenor of the bond will depend on market conditions, the bank noted.

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

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