PNB taps HSBC, ING for P6.35B long-term note offer
This big bank is scaling up to consider even big-time foreign clients to secure fresh funding.
Bilyonaryo Lucio Tan’s Philippine National Bank (PNB) proceeded with its final tranche of long-term negotiable certificates of deposit by listing P6.35 billion at the Philippine Dealing and Exchange Corporation on Thursday, Oct. 26.
The new issuance involves notes with a 5.5-year term, which will earn 3.3875% in annual interest. The papers will mature on April 26, 2023.
This brings the total outstanding securities under the PDS Group at P756.4 billion across 44 companies.