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Philippines’ Robinsons Bank plans up to PHP 20 billion of bonds after doubling greenshoe
By Rebecca Melvin
New York, April 17 – Robinsons Bank Corp. said its board of directors has approved to increase its over-subscription option for its planned issuance of fixed-rate bonds to up to PHP 10 billion of notes from PHP 5 billion, according to a notice.
The decision lifts the total deal size to up to PHP 20 billion of bonds from PHP 15 billion.
As previously reported, the company is planning the 2020 issuance for funding. The issuance may include corporate notes, long-term negotiable certificates of deposit or corporate bonds in various tranches and multiple tenors.
The Quezon City, Philippines-based lender is 60% owned by conglomerate JG Summit Holdings, Inc. and 40% by supermarket company Robinsons Retail Holdings Inc.
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