PSBank raises P5 billion via two-year bonds

PHILIPPINE Savings Bank (PSBank) raised P5 billion in fresh funds via the two-year peso bonds it offered earlier this month.

The thrift unit of Metropolitan Bank & Trust Co. (Metrobank) listed the bonds on the Philippine Dealing & Exchange Corp. on Monday, it said in a disclosure to the stock exchange.

The final issue size was well above its P2-billion offer.

The latest bond issuance marked PSBank’s return to the domestic debt market after five years and made up the third tranche of its P40-billion bond program.

The papers carry a fixed interest rate of 5.875% per annum, payable quarterly.

“The public offer period, which was initially set to run from Aug. 4 to 8, 2025, was cut short to Aug. 5, 2025 as strong investor interest resulted in orders reaching more than six times the base offer size,” PSBank said.

“The net proceeds from this issuance will support PSBank’s expansion initiatives and further diversify the bank’s funding sources.”

First Metro Investment Corp. and ING Bank N.V. Manila Branch were the arrangers for the transaction. They also acted as selling agents together with PSBank and Metrobank.

PSBank’s net income went down by 29.88% to P953.62 million in the second quarter from P1.36 billion a year prior.

This brought its earnings for the first semester to P2.16 billion, dropping by 15.63% year on year from P2.56 billion.

Its shares went up by 30 centavos or 0.53% to end at P56.50 each on Monday. — BVR