PSBank Lists PhP5.08 Billion LTNCTD Due 2024 in PDExPosted on: August 9, 2018
09 August 2018, Makati Philippines – Philippine Savings Bank (PSBank) returned to the Philippine Dealing & Exchange Corp. (PDEx) organized secondary market with its PhP5.0845 Billion Long-Term Negotiable Certificates of Time Deposit (LTNCTD) Due 2024. This is the initial tranche of its approved PhP15 Billion LTNCTD shelf issue.
It was in January 2017 when PSBank raised its first ever PhP3.375 Billions Series 1 LTNCTD. This now increases PSBank’s outstanding listed LTNCTDs to PhP8.46 Billion.
The primary market for corporate and bank issues has remained the center of activity for this year and with today’s 14th listing, the year-to-date total of new listings in PDEx now stands at PhP106 Billion, bringing the total face amount of private corporate debt listed in PDEx to PhP898.09 Billion, up by 21% from the same period last year, with PhP173 Billion out of that figure arising from LTNCD issuances.
PDEx President and COO Antonino A. Nakpil remarked: “We congratulate PSBank on this issuance and listing, and trust that this funding will allow it to pursue its strategy of simple and reliable banking, now quite visibly electronic and online, and look forward to its active membership in our “Returning Issuers” community.”
The event was held at the PDS Group Assembly Hall and was graced by PSBank Senior Officers including President Jose Vicente L. Alde, Senior Vice President and Branch Banking Group Head Francis C. Llanera, and Senior Vice President and Treasury Group Head Perfecto Ramon Z. Dimayuga, Jr. The issue participants were also in attendance represented by ING Bank N.V., Manila Branch Country Manager – Philippines Hans B. Sicat, Standard Chartered Bank CEO Lynette V. Ortiz, First Metro Investment Corporation President Rabboni Francis B. Arjonillo, and Metropolitan Bank and Trust Company Senior Vice President Angelica S. Reyes.