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Bacolod City, Philippines Wednesday, January 11, 2017
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PSBank starts LTNCTD offer

MANILA- - Offering of Philippine Savings Bank's (PSBank) 5-year and three-month Long-Term Negotiable Certificates of Time Deposit started yesterday.

In a disclosure with the Philippine Stock Exchange Tuesday, the thrift banking arm of the Ty-led Metrobank Group said it will issue up to P 3 billion worth of LTNCTD with an annual interest rate of 3.5 percent payable quarterly.

Issue date of the LTNCTD will be on Jan. 30, 2017.

Investors may place at least Php 50,000 and increments of P 50,000 for additional investments.

PSBank tapped ING as sole arranger for this issuance and it is joined by First Metro Investment Corporation, Metrobank, and PSBank as selling agents.*PNA



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