The bonds carry a 6.0796 percent annual interest rate with a one-and-a-half-year tenor and mark the initial tranche of PBCOM’s P15 billion bond program.
By mid-2024, PBCOM’s assets had grown by 12.2 percent year-over-year, totaling P148.7 billion, with loans rising to P90 billion.
Proceeds will fund corporate purposes, including debt refinancing, funding diversification, and loan expansion. ING Bank N.V., Manila Branch, acted as the sole arranger and bookrunner, with both PBCOM and ING as selling agents.
Management’s view
“The offering of our peso fixed rate Series A Bonds due 2026 was closed more than a week ahead of schedule due to robust demand, resulting in an oversubscription of 3.85 times the initial amount,” said president and CEO Patricia May Siy.
“This is a true sign of the market’s confidence in our efforts over the past years, which have delivered a solid track record in asset, revenue, and profit growth,” she added.
