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Keisha Ta-Asan - The Philippine Star
August 7, 2025 | 12:00am
The thrift banking arm of the Metrobank Group said the offer period for the third tranche under its P40-billion bond program, originally set for Aug. 4 to Aug. 8, was completed in just one day due to strong interest from both institutional and retail investors.
BusinessWorld / File
MANILA, Philippines — Philippine Savings Bank (PSBank) has shortened the offer period for its latest peso bond issuance after receiving overwhelming demand from investors, with orders exceeding the initial offering by more than six times.
The thrift banking arm of the Metrobank Group said the offer period for the third tranche under its P40-billion bond program, originally set for Aug. 4 to Aug. 8, was completed in just one day due to strong interest from both institutional and retail investors.
The latest issue involves two-year fixed-rate bonds carrying an interest rate of 5.875 percent per annum. The bonds are slated for issuance and listing on the Philippine Dealing and Exchange Corp. on Aug. 18.
Proceeds from the sale will be used to provide the bank with long-term funding to support expansion plans and diversify its funding sources.
First Metro Investment Corp. and ING Bank N.V., Manila Branch served as arrangers for the offering, while PSBank, First Metro, ING and Metropolitan Bank & Trust Co. acted as selling agents.
PSBank, which operates a network of 250 branches and more than 500 automated teller machines nationwide, offers a wide range of consumer banking services including deposits, auto and home loans, personal loans and insurance products.
The thrift bank’s net income inched up by 0.6 percent to P1.21 billion in the first quarter, driven by continued loan growth and lower expenses.
