Money

ChinaBank launches P100B fundraising program

ChinaBank to offer P20B high-yielding deposits

Sy family-led China Banking Corp. is returning to the bond market with its planned P100 billion fund raising program in the next three years.

Sy family-led China Banking Corp. is returning to the bond market with its planned P100 billion fund raising program in the next three years.

In a stock exchange filing, China Bank said its board approved a fund raising program in the form of retail bonds and/or commercial papers.

Proceeds from the offering will be used to support the bank’s strategic initiatives and expansion program.

The move is in line with the bank’s goal to be an active participant in the country’s economic recovery and expansion.
The bank recently raised P20 billion from the issuance of three-year peso bonds.

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