Philippine Savings Bank (PSBank), the thrift bank arm of the Metrobank Group, has secured the approval of its board of directors to proceed with its plan to issue P3-billion worth of unsecured subordinated debt.
In a filing with the Philippine Stock Exchange, PSBank disclosed that its board has passed a resolution approving the Bank’s issuance of P3 billion in unsecured subordinated debt with a term of 10 years and a call option on the fifth year.
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