PSBank pursues own P10B note float
This thrift bank won’t just piggyback off its mother firm’s money.
The Philippine Savings Bank (PSBank) announced that it will be pursuing a P10-billion offering of medium-term notes, as approved by its board of directors on Thursday, Sept. 20.
The notes may be fixed or floating rate, with the final terms to be set as deemed fit.
“The MFN issuance will give PSBank an opportunity to access medium-term and stable funding as the bank further expands its consumer banking business,” the bank said in a disclosure.
This comes days after its parent Metrobank announced a P100-billion bond offering for fresh capital.