PNB, which holds a Baa3 rating from Moody’s—an investment-grade rating with a positive outlook—has appointed ING and J.P. Morgan as lead managers for the fundraising.
PNBCapital will be the sole global coordinator in this process.
Starting on Oct. 14, 2024, they will meet with potential investors to discuss the offering.
PNB is considering issuing 5-year senior notes, a type of debt security, although the final issuance will depend on market conditions. This marks PNB’s return to the offshore debt market after five years.
