Philippines’ PBCOM eyes PHP 5 billion long-term negotiable CDs

By Marisa Wong

Morgantown, W.Va., May 24 – Philippine Bank of Communications plans to issue up to PHP 5 billion of long-term negotiable certificates of time deposit, according to a notice.

The peso-denominated negotiable CDs will be issued in one or more tranches, subject to approval from the Bangko Sentral ng Pilipinas.

The purpose of the issuance is for general corporate funding, in particular long-term funding, the bank said.

PBCOM is a commercial bank based in Makati City, Philippines.

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