PSBank to raise up to P15B from LTNCDs

LISTED Philippine Savings Bank, the thrift bank arm of the Metrobank Group, is planning to raise as much as P15 billion from the issuance of long-term negotiable certificates of time deposits (LTNCDs) to support its expansion.

In a disclosure, the bank said its board of directors had approved the issuance of LTNCDs in two or more tranches over a period of one year and with a tenor of 5.5 years.