Offering of Philippine Savings Bank’s (PSBank) 5-year and three-month Long-Term Negotiable Certificates of Time Deposit (LTNCTD) started Tuesday.
In a disclosure with the Philippine Stock Exchange (PSE) Tuesday, the thrift banking arm of the Ty-led Metrobank Group said it would issue up to P3 billion worth of LTNCTD with an annual interest rate of 3.5 percent payable quarterly.
The issue date of the LTNCTD is set for Jan. 30, 2017.
Investors may place at least P50,000 and increments of P50,000 for additional investments.
PSBank tapped ING as sole arranger for this issue, and it is joined by First Metro Investment Corporation (FMIC), Metrobank, and PSBank as selling agents.