Philippine Savings Bank (PSBank), the thrift banking arm of the Metrobank Group, is set to issue peso-denominated fixed-rate bonds under its ongoing ₱40-billion Bond Program.
This issuance marks the third tranche of the program, following the ₱6.3 billion offering in July 2019 and the ₱4.65 billion tranche in February 2020.
The upcoming offer has an initial size of ₱2 billion, with an option to increase depending on investor demand. The bonds will have a two-year tenor.
Proceeds from the issuance will be used to support the bank’s expansion plans and diversify its funding sources.
The bonds are scheduled to be issued and listed on the Philippine Dealing & Exchange Corp. (PDEx) on August 18.
First Metro Investment Corporation and ING Bank N.V., Manila Branch have been appointed as joint lead arrangers for the offering.
