Philippines

PNB raises P6.35-B long-term fund

PNB raises P6.35-B long-term fund

MANILA (Philippines News Agency) – – The Philippine National Bank (PNB) was able to raise PHP6.35 billion from the issuance of its 5.5-year Long-Term Negotiable Certificates of Time Deposit (LTNCTD), proceeds of which will be used to boost its business.

During the listing of the LTNCTD with the Philippine Dealing System (PDS) Group Thursday, PNB EVP Nelson Reyes said the issuance “enabled the bank to raise long-term and cost-effective funding as and when needed.”

He also considers the issuance as a “suitable investment requirement.”

“PNB is determined to continue sustained path to stronger sustainable growth (by) taking advantage of available market opportunities with our expanding economy while addressing financial needs of our customer base,” he added.

Interest rate of the LTNCTD due 2023 was set at 3.875 percent to be paid quarterly although the bank may fully redeem the issuance before its maturity.

PNB tapped HSBC and ING Bank N.V. Manila as joint lead arrangers and selling agents for the issuance while PNB and Multinational Investment Bancorporation were tasked as other selling agents.

Since the start of the year, new securities listed with the PDS totaled to PHP163.48 billion while total outstanding listed securities amount to PHP756.37 billion.

Total outstanding corporate issues reached 125 securities issued by 44 companies. (PNA)

 

Mga Kababayan,

Paki tingnan mo ang video na ito kung bakit makakatulong po ang pagkakaroon ng Life Insurance sa Canada.

Sa libreng konsultasyon, tumawag lang po sa 1-780-807-4743 for Edmonton and Area, 1-403-400-0983 for Calgary and Area, o kaya sa 1-604-446-6140 for Vancouver and Area.

Maraming salamat po.

 

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s