PSBank issues P3B in debt notes


Philippine Savings Bank, the thrift bank unit of the Metrobank group, launched on Friday the offering of P3 billion in debt notes, which will qualify as tier 2 or supplementary capital.

PSBank’s tier 2 notes—which will have a tenor of 10 years, although the bank has an option to redeem them on the fifth year—are offered at an indicative interest rate of 5.875 percent a year. Interest payment will be made on a quarterly basis.

The offering started yesterday and will run until Feb. 16 unless adjusted, PSBank chief finance officer Perfecto Ramon Dimayuga Jr. disclosed to the Philippine Stock Exchange.

Target issuance is on Feb 24.

ING Bank N.V. acts as the arranger and selling agent while Multinational Investment Bancorporation was mandated as market maker and selling agent.

Subscription to the tier 2 offer is open for a minimum denomination of P500,000 with additional denomination of P100,000.

Taking advantage of ample liquidity in the financial system, PSBank launched this tier 2 offer to boost its cash hoard for expansion, such as for prospective acquisitions.

PSBank has obtained a triple-A credit rating from local credit watcher Philippine Rating Services Corp. for this offering.

Obligations rated “PRS Aaa,” the highest rating in PhilRatings’ scale, are deemed of highest quality with minimal credit risk.

In a recent statement, Philrating said the rating reflected PSBank’s strong management team as well as its sound asset quality. Doris C. Dumlao

Get Inquirer updates while on the go, add us on these apps:

Inquirer Viber

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.

To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.

Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:

c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City,Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


editors' picks



latest videos